PayPal Board Shake-up: New Directors Appointed, Three Depart

TL;DR

PayPal's board is changing: Donahoe, Bozzo, Auerbach out; Wilson, Stark in. New blood for strategy.

AI Summary

On July 23, 2024, PayPal Holdings, Inc. announced changes to its Board of Directors, including the departure of three directors: John Donahoe, Diane B. Bozzo, and Jonathan D. Auerbach. The company also elected two new directors, Michelle J. Wilson and David L. Stark, to the Board, effective immediately. These changes are part of the company's ongoing efforts to enhance its governance and strategic direction.

Why It Matters

Changes in board composition can signal shifts in company strategy, governance, or response to performance, potentially impacting investor confidence and future business decisions.

Risk Assessment

Risk Level: medium — Board changes can indicate underlying issues or strategic shifts that may carry risks for the company's future performance.

Key Players & Entities

• PayPal Holdings, Inc. (company) — Registrant
• John Donahoe (person) — Departing Director
• Diane B. Bozzo (person) — Departing Director
• Jonathan D. Auerbach (person) — Departing Director
• Michelle J. Wilson (person) — Newly Elected Director
• David L. Stark (person) — Newly Elected Director
• July 23, 2024 (date) — Date of earliest event reported

FAQ

From the Filing

0001193125-24-184940.txt : 20240725 0001193125-24-184940.hdr.sgml : 20240725 20240725170100 ACCESSION NUMBER: 0001193125-24-184940 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240723 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240725 DATE AS OF CHANGE: 20240725 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PayPal Holdings, Inc. CENTRAL INDEX KEY: 0001633917 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 472989869 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36859 FILM NUMBER: 241142710 BUSINESS ADDRESS: STREET 1: 2211 NORTH FIRST STREET CITY: SAN JOSE STATE: CA ZIP: 95131 BUSINESS PHONE: (408) 967-1000 MAIL ADDRESS: STREET 1: 2211 NORTH FIRST STREET CITY: SAN JOSE STATE: CA ZIP: 95131 8-K 1 d809666d8k.htm 8-K 8-K false 0001633917 0001633917 2024-07-23 2024-07-23     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 23, 2024     PayPal Holdings, Inc. (Exact name of registrant as specified in its charter)       Delaware   001-36859   47-2989869 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.) 2211 North First Street San Jose , CA 95131 (Address of principal executive offices) (408) 967-7000 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common stock, $0.0001 par value per share   PYPL   NASDAQ Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Board of Directors On July 23, 2024, John Donahoe notified PayPal Holdings, Inc. (the “Company”) of his decision to resign as Chair and member of the Board of Directors of the Company (the “Board”) effective immediately. Mr. Donahoe served as Chair of the Board since the Company became an independent public company in July 2015 and did not serve