Wall Street Breakfast PayPal CEO out, Disney succession set
12 snips
Feb 3, 2026 PayPal shakes up leadership with a high-profile hire from HP after a rocky quarter. Disney sets a clear succession plan and reorganizes creative oversight. Markets buzz about SpaceX acquiring xAI and what that could mean for Tesla. Corporate moves include Pfizer updates, Rambus supply issues, and PepsiCo boosting returns to shareholders.
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PayPal Leadership Shift After Weak Quarter
- PayPal replaced CEO Alex Chris with HP chief Enrique Lores after weak Q4 results and disappointing guidance.
- The board cited poor execution and competitive positioning as the trigger for the leadership change.
HP Names Interim CEO Amid Executive Poach
- HP will name Bruce Broussard interim CEO while it conducts a global search after Enrique Lores departs for PayPal.
- HP reaffirmed its outlook even as its shares fell on the executive move.
Disney Succession Set For Experiences Chief
- Disney named Josh D’Amaro as Bob Iger's successor to lead its Experiences unit and company overall.
- Analysts expect the new CEO to push cost cuts and reallocate spending toward higher-return areas.