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PayPal hires Srini Venkatesan as new CTO

PayPal Appoints Srini Venkatesan as New CTO: Key Points

  1. Appointment Announcement:
    • Srini Venkatesan named as PayPal’s new Chief Technology Officer (CTO), effective 24 June.
  2. Responsibilities:
    • Leading technology development and deployment across PayPal’s ecosystem.
    • Focus areas include AI, machine learning, product engineering, analytics, data science, information security, and infrastructure operations.
  3. CEO Comments:
    • PayPal president and CEO, Alex Chriss, highlights Venkatesan’s experience in technology, digital transformation, and AI personalization as invaluable.
  4. Professional Background:
    • Venkatesan has a 30-year fintech career.
    • Previously led the US omni and platforms technology unit at Walmart Global Tech.
    • Former VP at Yahoo, CTO at StubHub, and held various director roles at eBay.
  5. Predecessor:
    • Venkatesan succeeds Archie Deskus, who leaves after a two-year tenure at PayPal.
  6. Venkatesan’s Vision:
    • Plans to leverage his experience to enhance and personalize PayPal users’ shopping experiences.
  7. Workforce Reduction:
    • The announcement follows PayPal’s plans to reduce its workforce by about 9% in 2024, affecting approximately 2,500 positions, as part of efforts to “right-size” the business.

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