By Sabela Ojea


PayPal Holdings Inc. said Thursday that Chief Executive Dan Schulman intends to leave the company by the end of the year.

"I'm at a point in my life where I want to devote more time to my passions outside the workplace," Mr. Schulman said.

The digital payments giant didn't name a successor, but said it is working with a search firm to find Mr. Schulman's replacement.

In the meantime, Mr. Schulman will continue to serve on the board of directors and collaborate on ensuring a smooth leadership transition, PayPal said.

"I remain 100 percent committed to working closely with the board and my eventual successor for a smooth transition and to ensure we keep our positive momentum on track," he said.


Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix


(END) Dow Jones Newswires

02-09-23 1643ET