PayPal Appoints Srini Venkatesan as New CTO: Key Points
- Appointment Announcement:
- Srini Venkatesan named as PayPal’s new Chief Technology Officer (CTO), effective 24 June.
- 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.
- CEO Comments:
- PayPal president and CEO, Alex Chriss, highlights Venkatesan’s experience in technology, digital transformation, and AI personalization as invaluable.
- 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.
- Predecessor:
- Venkatesan succeeds Archie Deskus, who leaves after a two-year tenure at PayPal.
- Venkatesan’s Vision:
- Plans to leverage his experience to enhance and personalize PayPal users’ shopping experiences.
- 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.
