PayPal Holdings Appoints Blake Jorgensen CFO, Searching for New CPO
August 02 2022 - 4:10PM
Dow Jones News
By Denny Jacob
PayPal Holdings Inc. said Tuesday it is appointing Blake
Jorgensen chief financial officer, effective Wednesday.
The San Jose, Calif.-based payments company has been looking for
a permanent CFO after John Rainey stepped down from the role at the
end of May. Gabrielle Rabinovitch has served as interim CFO.
Mr. Jorgensen has served as CFO at Electronic Arts Inc., Levi
Strauss & Co., and Yahoo Inc.
PayPal said the company is also conducting a search for a new
product chief following Mark Britto's plans to retire at the end of
the year.
The company said it has entered into an information-sharing
agreement with Elliot Management Corp. to continue collaboration
opportunities. Elliot Managing Partner Jesse Cohn said it has about
a $2 billion investment in the company and that the news highlights
steps that are under way and are being initiated to realize "the
significant value opportunity at the company."
The Wall Street Journal reported last Tuesday that the activist
investor has a stake in PayPal.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
August 02, 2022 16:55 ET (20:55 GMT)
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