Enrique Lores resigned as HP Inc.’s president and CEO on February 3, 2026, and was appointed PayPal’s next president and CEO. He was scheduled to begin at PayPal on March 1, replacing Alex Chriss. HP named board member Bruce Broussard interim CEO, while PayPal installed Jamie Miller as interim CEO until Lores took over.
The unusual executive move came as PayPal said it needed faster change and stronger execution—and as the company released its fourth-quarter and full-year 2025 results on the same day.
As an Amazon Associate I earn from qualifying purchases.
What happened on February 3, 2026?
HP said Lores’s departure was effective immediately. The company said he was leaving to pursue another professional opportunity, appointed Bruce Broussard interim CEO, formed a CEO search committee and retained a global executive-search firm.
PayPal separately announced that Lores would become its president and CEO effective March 1, succeeding Alex Chriss. Until that date, PayPal CFO and COO Jamie Miller was to serve as interim CEO. PayPal also appointed David W. Dorman independent board chair, effective immediately.
#1 Best Overall
- All In The Detail: The HP laptop has a beautiful brushed full-size keyboard with 10-key number pad. The 17.3 HP laptop features Wide Vision 720p camera + digital microphones, delivering clear and detailed image for video chats. Work and play non-stop with long battery life and HP Fast Charge. The large laptop hp computer is one place for all...
- Immersive Full HD Display: Experience high performance with the HP laptops featuring a stunning 17.3 inch FHD anti-glare display with sharp details and vivid color. The large 17 inch HP laptops slim bezel and big screen is perfect for multitasking, work, and entertainment. Its slim, sleek, durable design in new vibrant silver finish makes this eye-catching, thin lightweight HP 17.3 laptop easily portable..
- Windows 11 & Office 365 for Web: Preloaded with Windows 11 for a secure and easy-to-manage work experience. Built-in AI Copilot helps you quickly organize tasks, summarize information, and create content. With Office 365 for Web, you can create, edit, and share documents, presentations, and spreadsheets anytime, anywhere.
That means the announcement date and the leadership-change date were different: Lores left HP on February 3 but was not scheduled to formally start as PayPal CEO until March 1.
HP’s announcement and PayPal’s announcement provide the companies’ official accounts.
Why did PayPal replace Alex Chriss?
PayPal said its board had conducted a detailed evaluation and concluded that, although progress had been made, the pace of change and execution was not meeting expectations. The board said PayPal needed a seasoned leader for its next transformation phase.
Free tools Windows power users keep installed
One-click scans. No signup required.
PayPal also credited Chriss with work including monetizing Venmo and expanding the company’s buy-now-pay-later business. The public explanation therefore was not that Chriss had accomplished nothing, but that the board wanted faster execution and a different kind of leadership for the next stage.
Rank #2
- Efficient Intel Processor N150 delivers reliable performance for everyday computing tasks including web browsing, document editing, video streaming, and multitasking. 4GB DDR4 RAM ensures smooth operation when running multiple applications simultaneously. Perfect for students, home users, and professionals who need dependable performance for productivity work, online learning, video conferencing, and entertainment without lag or slowdowns.
- 128GB UFS storage provides fast boot times and quick application loading while offering ample space for documents, photos, videos, and essential software. Includes one-year subscription to Microsoft Office 365 Personal with Word, Excel, PowerPoint, Outlook, and 1TB OneDrive cloud storage—everything you need to create professional documents, spreadsheets, presentations, and manage email right out of the box.
- 14" HD (1366 x 768) anti-glare display delivers clear, comfortable viewing for extended work sessions with reduced eye strain. Narrow bezels maximize screen real estate for immersive content consumption. Integrated Intel UHD Graphics handles everyday visual tasks, HD video playback, and light photo editing. Ideal screen size balances portability with productivity—large enough for comfortable multitasking yet compact enough to carry anywhere.
- Comprehensive connectivity includes Wi-Fi 6 (802.11ax) for faster wireless speeds and improved network efficiency, Bluetooth 5.0 for wireless peripherals, USB-C port for modern accessories and fast data transfer, USB 3.2 ports, HDMI output for external displays or projectors, and 3.5mm audio jack. HD webcam with integrated microphone enables crystal-clear video calls for remote work, online classes, and staying connected with family and friends.
- Windows 11 Home operating system provides intuitive interface with enhanced productivity features, improved security, and seamless integration with Microsoft services. Full-size keyboard with numeric keypad for efficient data entry. Lightweight and portable design makes it easy to work from anywhere—home, office, classroom, or coffee shop. Long battery life supports all-day productivity. Backed by HP’s quality and reliability with customer support available.
The leadership announcement coincided with PayPal’s release of its fourth-quarter and full-year 2025 results. That timing matters when interpreting the market reaction. Secondary coverage reported disappointing quarterly results, weak expectations for 2026 profit and a sharp decline in PayPal shares. The stock move should not be attributed solely to Lores’s appointment because the earnings release and leadership announcement arrived together.
PayPal’s official results release contains the company’s financial announcement. A contemporaneous Techmeme roundup links to reporting on the market response.
Who is Enrique Lores?
Lores spent roughly 36 years at HP, beginning as an engineering intern. He led HP Inc. as president and CEO for more than six years; HP described his CEO tenure as seven years.
During his HP career, Lores was involved in the company’s transformation after the separation of HP Inc. and Hewlett Packard Enterprise. PayPal described his experience as extending beyond traditional PCs and printing into services, subscriptions, workplace solutions and AI-enabled offerings.
Rank #3
- Powerful Performance for Everyday Computing: Intel Celeron N4500 dual-core processor with up to 2.8 GHz burst frequency and 4 MB L3 cache delivers smooth multitasking for web browsing, email, document editing, and streaming. Paired with 8GB DDR4 memory, this laptop handles daily productivity tasks efficiently. Intel UHD Graphics provides reliable performance for casual gaming and multimedia consumption without dedicated graphics overhead.
- Stunning 14-Inch HD Display with Micro-Edge Design: Experience crisp visuals on a 14-inch diagonal HD (1366 x 768) anti-glare display with 250 nits brightness and 45% NTSC color accuracy. The micro-edge bezel design maximizes screen real estate with an impressive 79% screen-to-body ratio, giving you more viewing area in a compact form factor. Anti-glare coating reduces eye strain during extended work sessions, perfect for students and professionals working long hours.
- Ample Storage and Productivity Suite Included: 64GB eMMC internal storage provides space for applications, documents, and media files. Windows 11 Home in S Mode offers enhanced security and performance optimization. Microsoft 365 one-year subscription included—access Word, Excel, PowerPoint with AI-powered smart assistance features. Microsoft Copilot integration with dedicated Copilot key gives you intelligent answers and productivity support at your fingertips for seamless workflow enhancement.
- Modern Connectivity and Comprehensive Ports: Wi-Fi 6 (2x2) and Bluetooth 5.4 wireless connectivity ensure fast, reliable connections for streaming and online collaboration. Full port selection includes 1 USB Type-C 5Gbps, 2 USB Type-A 5Gbps, HDMI 1.4b, headphone/microphone combo jack, SD media card reader, and AC Smart pin. HP True Vision 720p HD camera with dual array digital microphones enables crystal-clear video conferencing for remote work and online learning.
- Ultra-Portable Design with Extended Battery Life: Weighing just 3.24 lbs with a slim 0.71-inch profile, this laptop fits easily into backpacks and bags for on-the-go productivity. Up to 12 hours of video playback or 7 hours 45 minutes of wireless streaming battery life, keeping you productive throughout the day. Includes 45W AC power adapter. Snow white finish with vertical brushing pattern on keyboard deck and full-size snow white keyboard for comfortable typing.
His move was especially unusual because he was already closely connected to PayPal. Lores had served on PayPal’s board for nearly five years and had been its board chair since July 2024. He was therefore not simply an outside executive recruited into an unfamiliar company: he was a sitting director and the company’s outgoing chair who was chosen to become CEO.
Why was the appointment surprising?
The move combined several uncommon features:
- Lores left a company he had served for his entire professional career.
- HP’s CEO resignation took effect immediately, requiring an interim leader and a new search.
- He moved directly to lead a company whose board he had chaired.
- HP and PayPal operate in different primary markets. HP focuses on computing, printing, services and workplace technology, while PayPal operates in digital payments and commerce.
Semafor reported, citing sources, that HP’s board was surprised by the departure. “Blindsided” is a reported characterization, not an admission made by HP in its official announcement.
For PayPal, Lores offered a combination of large-company technology experience, transformation experience, global operating exposure and existing knowledge of PayPal. Those factors may have reduced the learning curve compared with an entirely external candidate. They do not, however, prove that he had operating expertise in every part of payments, including fraud, credit, merchant acquiring or financial-services regulation.
The Tool Desk
Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →The governance question
Lores’s prior role at PayPal made board structure an important part of the transition. A person who had been board chair was becoming the company’s CEO, so PayPal announced Dorman as independent board chair immediately.
Rank #4
- MICRO-EDGE HD TOUCHSCREEN DISPLAY - Reach out and control your PC with just pinch, tap, or swipe, for a totally intuitive experience with flicker-free, 1366 x 768 resolution visuals
- AMD RYZEN PROCESSOR - Experience acceleration for your work and creativity in a laptop powered by an AMD Ryzen 3 processor and boosted with incredible battery life
- AMD RADEON GRAPHICS - Experience high performance for all your entertainment whether it's games or movies
- STORAGE AND MEMORY - 128 GB PCIe NVMe M.2 SSD performs up to 15x faster than a traditional hard drive; and 8 GB LPDDR5 RAM memory is power efficient and provides speedy, responsive performance
- WINDOWS 11 HOME IN S MODE - Experience the most secure Windows ever built with added protection against phishing and malware
Separating the chair and CEO roles gives PayPal a distinct independent board leader while Lores runs the business. The announcement itself does not establish whether the arrangement raised a governance violation or whether the process was improper; it does show why a board-chair change was necessary as part of the appointment.
Several process details were not resolved in the companies’ releases, including when Lores recused himself from board discussions, whether an independent search committee was used, what compensation or severance terms applied and whether restrictions connected to his HP departure affected the move. Those questions would require securities filings, proxy materials or additional company comment.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened to HP?
Bruce Broussard became HP’s interim CEO effective immediately. He had served on HP’s board since 2021 and previously led Humana for more than a decade. HP did not describe Broussard as a permanent replacement; the company began a formal CEO search.
Recommended Free Tools
HP also reaffirmed its fiscal 2026 outlook, signaling that it wanted investors to see operational continuity despite the abrupt leadership change. The published ranges were:
Best Value
- 【Expansive Display】The 14 Non-touch display offers clear, and anti-glare coating, perfect for both work and entertainment.
- Designed for mobility with a slim 0.71-inch profile and lightweight, making it easy to carry between home, office
- 【Versatile Connectivity】 connected with multiple ports including USB 3.0 Type-C, and a headphone/mic combo jack, with Wi-Fi and Bluetooth for seamless wireless networking.
- One Year Microsoft 365
| Measure | HP outlook |
|---|---|
| Fiscal Q1 2026 GAAP diluted EPS | $0.58–$0.66 |
| Fiscal Q1 2026 non-GAAP diluted EPS | $0.73–$0.81 |
| Fiscal 2026 GAAP diluted EPS | $2.47–$2.77 |
| Fiscal 2026 non-GAAP diluted EPS | $2.90–$3.20 |
| Fiscal 2026 free cash flow | $2.8–$3.0 billion |
Reaffirming guidance is not the same as proving that HP’s strategy or execution will be unaffected. A long-serving CEO’s sudden departure can create succession risk even when near-term financial targets remain unchanged.
What investors and customers should watch
At PayPal
- Whether Lores accelerates product development and execution.
- How PayPal approaches branded checkout, Venmo monetization, buy now, pay later and merchant tools.
- Performance against competitive pressure in digital commerce.
- Regulatory, fraud, credit and consumer-finance risks.
- Whether the separation between the independent chair and CEO provides effective oversight.
At HP
- How long the interim period lasts and whether HP selects an internal or external successor.
- Whether the company maintains its reaffirmed fiscal 2026 outlook.
- Whether the leadership change affects HP’s services, subscription, workplace-technology and AI-related initiatives.
- How effectively Broussard maintains operations while the board searches for a permanent CEO.
The bottom line
This was a two-company leadership shake-up, not a simple retirement. HP lost a CEO who had spent 36 years at the company and moved immediately to an interim succession plan. PayPal replaced Chriss with Lores, a technology-company veteran who already knew PayPal as a director and former board chair.
PayPal’s stated reason was insufficient pace of change and execution, while the same-day earnings release added important financial context. The appointment may give PayPal an experienced transformation leader, but it also creates a governance transition and brings an executive from computing and workplace technology into a highly regulated payments business. HP’s reaffirmed outlook suggests continuity was the immediate message, but the permanent CEO search remains central to the company’s next chapter.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
