- The CEO of PayPal affirmed that he would step down by the conclusion of 2023.
- Dan Schulman assumed the role of PayPal CEO following the company’s separation from eBay in 2015.
- “I take pride in our achievements at PayPal and in the incredibly skilled and dedicated individuals I collaborate with every day,” Schulman stated.
Dan Schulman’s partner has not made any remarks since the news of Dan’s retirement from PayPal surfaced.
Dan Schulman took on the position of PayPal CEO after the company’s split from eBay in 2015. He informed the company of his plan to retire at the end of December 2022. He will continue to serve as a member of PayPal’s board of directors, which is in the process of hiring a search firm to locate Schulman’s replacement.
Mr. Schulman expressed his intention to aid in the leadership transition and remain a part of PayPal’s board.
“At this stage in my life, I wish to dedicate more time to my interests beyond the workplace,” stated Mr. Schulman regarding his decision to retire.
In late January, PayPal announced that it would terminate 2,000 employees, which is equivalent to 7% of the company’s workforce.
Last summer, activist investor Elliott Management amassed an undisclosed stake in PayPal.
When questioned about Elliott Management’s managing partner Jesse Cohn, Schulman mentioned that he and Jesse maintain a cordial relationship. “He has been extremely supportive, and I’m certain this announcement has come as a genuine surprise and shock because of his unwavering support,” stated Dan after disclosing his retirement plan.
Schulman added that PayPal’s board is seeking the most suitable candidate to take his place. He further stated that the change would have a positive impact both within the company and externally.
As per his statement, PayPal is in a favorable position and is expected to deliver a robust performance this year. He also added that the board will have ample time to find his successor.
Dan Schulman tied the knot with Jennie Ann Kassanoff in 1991. The couple has two children, Molly, 25, and Jake, 24, together.
He resided with his spouse and children in Berkshire County for nearly two decades.
According to certain sources, Jennie initiated the legal process for ending her marriage to Dan Schulman on June 18th, 2020. However, neither party nor any credible news outlet has validated this information.
Dan Schulman has played a pivotal role in the success of PayPal. He assumed leadership of the company during its most challenging period and will depart after nine years with the company in excellent shape.
As of 2023-02-09, Dan Schulman’s estimated net worth is at least 35 Million dollars. Dan Schulman is the President and CEO of PayPal Holdings Inc. and possesses approximately 196,544 shares of PayPal Holdings Inc (PYPL) stock valued at over $15 Million.
