Business
PayPal CEO Enrique Lores Intended to Fix PayPal, but Now He Could Sell It for Billions
Digital-payments pioneer PayPal PYPL -0.30%decrease; down pointing triangle is in a yearslong rut. Enrique Lores is tasked with saving it.
The 61-year-old was named chief executive of PayPal earlier this year after decades at HP HPQ 2.90%increase; up pointing triangle and its predecessor company, Hewlett-Packard, which he played a key role in splitting up. Lores has since announced an ambitious turnaround plan for PayPal that includes reorganizing its business lines and slashing at least $1.5 billion in costs—moves reminiscent of the playbook he has deployed in his previous roles.
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