PayPal Loses CFO Blake Jorgensen, Gabrielle Rabinovitch To Continue As Acting Finance Chief

  • On March 7, 2023, PayPal Holdings, Inc PYPL said CFO Blake Jorgensen would immediately step down
  • Jorgensen will remain as a senior advisor through September 15, 2023. 
  • Jorgensen's decision does not reflect any dispute or disagreement with the Company.
  • Gabrielle Rabinovitch will continue to serve as acting CFO. 
  • The departure followed a leave of absence for health reasons amid a shuffle of upper management at the online-payments platform, Bloomberg reports.
  • In February, CEO Dan Schulman shared plans to retire from PayPal on December 31, 2023. The Board will retain a search firm to help find Schulman's successor.
  • In February, PayPal reported fourth-quarter revenue growth of 7% year-over-year to $7.38 billion, which missed average analyst estimates of $7.39 billion.
  • The quarterly earnings of $1.24 per share beat consensus estimates of $1.20.
  • Price Action: PYPL shares traded lower by 0.28% at $74.71 premarket on the last check Wednesday.
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