Board intends to appoint Carmine Di Sibio, EY's outgoing Global Chairman
and CEO, as an independent director, effective July 2024
Belinda Johnson
plans to retire from the Board at the Annual Meeting
SAN JOSE, Calif., March 28, 2024 /PRNewswire/ -- PayPal Holdings,
Inc. (NASDAQ: PYPL) today announced its Board of Directors intends
to appoint Carmine Di Sibio,
outgoing Global Chairman and CEO of EY, to the Board as an
independent director, effective July
1, 2024.
"We are very pleased about the planned addition of Carmine to
our Board given his demonstrated record of championing innovation,
extensive experience advising regulated financial companies, and
keen understanding of what it takes for global companies to
succeed," said Alex Chriss,
President and CEO, PayPal. "If appointed, Carmine will be helpful
in sharing his expertise in driving transformation and profitable
growth in markets around the world to help us revolutionize
commerce globally."
Di Sibio has been with EY, one of
the largest professional services organizations in the world with
more than 380,000 people in 150 countries, since 1985. He was named
Global Chairman and CEO in 2019. Prior to being elected to his
current post, Carmine served as EY Global Managing Partner – Client
Service. Carmine has spearheaded EY's innovation efforts, including
helping to create the Global Innovation team to redefine how EY
uses technology to both transform existing services and create new
solutions. Since joining EY in 1985, he has served as an Advisory
and Assurance partner for many of the firm's largest financial
services accounts. He held several leadership positions, including
Chair of the Global Financial Services Markets Executive and
Regional Managing Partner for the Americas Financial Services
Organization (FSO), where he started EY Risk Management and
Regulatory Services.
Di Sibio previously announced he
will retire from EY in June 2024. In
accordance with EY policy and practice, he is only able to join a
public company board upon his retirement.
In addition, Belinda Johnson who
has served as a director since 2017, has informed the company that
she will retire from the Board and not stand for re-election at the
2024 Annual Meeting of Stockholders in May.
"We want to thank Belinda for her contribution and service to
PayPal and the Board over the past seven years," said John Donahoe, Chair of the PayPal Board of
Directors. "She has made a real positive impact. Her experience and
thoughtful counsel have made PayPal a better company."
About PayPal
PayPal has been revolutionizing commerce globally for more than 25
years. Creating innovative experiences that make moving money,
selling, and shopping simple, personalized, and secure, PayPal
empowers consumers and businesses in approximately 200 markets to
join and thrive in the global economy. For more information,
visit https://www.paypal.com, https://about.pypl.com,
and https://investor.pypl.com.
Investor Relations Contact:
Ryan
Wallace, ryanwallace@paypal.com
Media Relations Contact:
Josh
Criscoe, jcriscoe@paypal.com
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SOURCE PayPal Holdings, Inc.
