Feb. 3 (UPI) -- Enrique Lores will be the new chief executive officer of PayPal Holdings Inc., and David Dorman is the digital payment processor's new independent board chairman, the company announced Tuesday.
Lores previously was the tech firm's chairman and served on the independent board for five years, and he replaces Alex Chriss as its chief executive officer, PayPal announced.
Lores won't immediately take the reins as PayPal's top executive. Instead, Chief Financial and Operating Officer Jamie Miller will serve as interim chief executive until Lores is ready to take the helm.
While Lores won't immediately become PayPal's chief executive, Dorman immediately becomes chairman of its independent board.
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