PayPal to appoint EY's Carmine Di Sibio to board

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PayPal to appoint EY's Carmine Di Sibio to board
Credit: © Reuters.

SAN JOSE, Calif. - PayPal (NASDAQ: PYPL ) Holdings, Inc. (NASDAQ: PYPL) announced today its intention to appoint Carmine Di Sibio, the outgoing Global Chairman and CEO of EY, as an independent director to its board, effective July 1, 2024. Di Sibio is set to retire from EY in June 2024, following a tenure that began in 1985.

During his time at EY, one of the world's largest professional services organizations, Di Sibio has held various leadership roles, including Global Managing Partner for Client Service and Chair of the Global Financial Services Markets Executive. He is credited with driving innovation within the firm, notably establishing the Global Innovation team to transform service delivery through technology.

The appointment is part of PayPal's broader strategy to enhance its board's expertise in global financial markets and innovation. Alex Chriss, President and CEO of PayPal, expressed confidence in Di Sibio's ability to contribute to the company's growth and transformation efforts.

In a related announcement, PayPal also disclosed that Belinda Johnson will retire from the board and not seek re-election at the upcoming Annual Meeting of Stockholders in May. Johnson has been a part of PayPal's board since 2017, and her departure was acknowledged with gratitude for her service and impact on the company by John Donahoe, Chair of the PayPal Board of Directors.

PayPal, a company that has been at the forefront of digital payment innovation for over 25 years, operates in approximately 200 markets, focusing on creating seamless and secure money movement and commerce experiences.

The information for this report is based on a press release statement.

InvestingPro Insights

As PayPal Holdings, Inc. (NASDAQ: PYPL) prepares to welcome Carmine Di Sibio to its board, the company's financial metrics and strategic decisions are of particular interest to investors. With a robust market capitalization of $71.8 billion, PayPal demonstrates significant industry presence.

The company's Price-to-Earnings (P/E) ratio, which stands at 17.46, is especially noteworthy when considering the company's near-term earnings growth potential. This is further emphasized by the PEG ratio for the last twelve months as of Q4 2023, which is at a low 0.2, suggesting that the stock may be undervalued relative to its earnings growth.

InvestingPro Tips for PayPal highlight the company's position as a prominent player in the Financial Services industry, with a management team that has been actively engaged in share buybacks. Additionally, analysts have a positive outlook, predicting profitability for PayPal this year. The company's successful track record is also reflected in its profitability over the last twelve months.

For investors seeking a deeper dive into PayPal's financials and strategic insights, InvestingPro offers a range of additional tips. Currently, there are five more InvestingPro Tips available for PayPal, which can be accessed by visiting https://www.investing.com/pro/PYPL. These tips can provide investors with a more comprehensive understanding of the company's performance and potential.

To further enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. This offer can give you access to valuable insights that could inform your investment decisions regarding PayPal and other companies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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