Digital payments giant PayPal has named Inuit executive Alex Chriss as its next President and CEO concluding a search process its Board had been conducting over the last several months.

Chriss has served as Executive Vice President and General Manager of Intuit’s Small Business and Self-Employed Group since 2019. He will take up the new role on September 27, 2023.

During the five years that Chriss led the Small Business segment, he grew its customers and revenues at a compound annual growth rate of 20% and 23%, respectively. In 2021, he led Intuit’s successful $12 billion acquisition of Mailchimp, significantly expanding the capacity of Intuit’s platform and its customer base.

Speaking on his appointment, John Donahoe, Chair of the PayPal Board of Directors said: “With his depth of experience in product development, his passion for serving customers and his longstanding commitment to empowering and enabling small businesses, and his proven track record of developing and inspiring his team, Alex is the perfect leader to take PayPal forward and accelerate the company’s growth opportunities.”

Chriss, who began his career at Intuit 19 years ago takes over from Dan Schulman who will remain on the board of the company until its next annual meeting of stockholders in May 2024.

“On behalf of the Board, I also want to thank Dan Schulman for his outstanding leadership during PayPal’s eight years of growth as an independent company. Dan made many major contributions to PayPal and helped establish the strong foundation for the future,” Donahoe said.

Chriss added: “I am proud to take the baton from Dan and thrilled to have the opportunity to work with PayPal’s talented and committed team to build on PayPal’s remarkable history and draw on its unique capabilities to deliver outstanding products and services to businesses and consumers.”