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Stock impact report

PayPal's new CEO makes Venmo a standalone business unit as potential buyers circle [CNBC]

PayPal Holdings, Inc. (PYPL) 
Last paypal holdings, inc. earnings: 1/29 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.paypal-corp.com
Company Research Source: CNBC
The restructuring comes as PayPal faces takeover interest from potential buyers including Stripe, with Venmo considered the company's most valuable and most acquirable asset. Two senior executives are departing amid the changes, and earlier this year PayPal weighed a broad round of layoffs that was put on hold when CEO Enrique Lores stepped in, CNBC is first to report. In this article PayPal CEO Enrique Lores has this week told managers that he is reorganizing the firm's reporting lines to separate Venmo, the popular mobile payments app, from the company's other operations, CNBC has learned exclusively. Venmo will soon be its own standalone segment within PayPal, making it easier to track its progress or potentially sell the business to another company, said people with knowledge of the changes. PayPal is looking to recruit a digital banking executive to run the new Venmo segment, said the people, who weren't authorized to speak publicly. The other two segments will be a Show less Read more
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