• PayPal Holdings (NasdaqGS:PYPL) has appointed Enrique Lores as its new CEO, replacing Alex Chriss.
• The leadership change follows management acknowledging that execution and growth in the core business have not met expectations.
• The move brings in an external leader at a time of rising competition and internal pressure for faster change.

For shareholders, this shift comes against a tough backdrop. PayPal’s share price sits at $40.46, with the stock down 28.5% over the past month, 30.4% year to date, and 47.1% over both the past year and the past three years. Over five years, the share price decline is 86.1%, highlighting how much confidence has been tested.

Bringing in Lores from outside the company suggests the board is looking for…