By Elias Schisgall
PayPal Holdings is reorganizing its structure into three businesses in an effort to streamline its operations and boost long-term growth.
The company said its model will include three segments: Checkout Solutions & PayPal, Consumer Financial Services & Venmo, and Payment Services & Crypto.
"To accelerate growth and unlock our full potential, we need to recommit to our fundamentals--getting much closer to the consumer, aligning the company around three strong businesses, simplifying how we work, sharpening accountability, and prioritizing operational excellence," Chief Executive Officer Enrique Lores said.
CNBC reported earlier Wednesday that PayPal was planning to separate Venmo into its own business unit in advance of a potential sale, citing people with knowledge of the changes.
The new consumer financial services segment will build out Venmo into a broader consumer financial services platform, the company said.
The restructuring comes with a list of executive appointments and departures. Diego Scotti, formerly general manager of the consumer group, is leaving PayPal, as is Michelle Gill, general manager of the small businesses & financial services group.
PayPal said that Frank Keller was appointed president of the new checkout solutions segment. Alexis Sowa and Jeff Pomeroy were tapped as interim leads of the consumer financial services and payment services and crypto segments, respectively.
The company also appointed Anshu Bhardwaj as chief artificial-intelligence transformation and simplification officer, as well as Antonio Lucio as chief marketing and corporate affairs officer.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
April 29, 2026 16:18 ET (20:18 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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