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PayPal names Enrique Lores chief executive in board-led reset
SAN JOSE: PayPal has appointed Enrique Lores as its new president and chief executive officer, effective 1 March, 2026, signalling a leadership reset as the board pushes for faster transformation and sharper execution.
Lores, who has served on PayPal’s board for nearly five years and as board chair since July 2024, succeeds Alex Chriss. Chief financial and operating officer Jamie Miller, will act as interim chief executive until Lores formally assumes the role. David W. Dorman has been named independent board chair with immediate effect.
The decision follows an extensive board review of PayPal’s competitive position and progress. While the company has made gains in recent years, directors said the pace of change had fallen short of expectations in a rapidly evolving payments landscape.
Dorman described Lores as a customer-focused leader with a strong record of driving complex global transformations.
Lores joins PayPal after more than six years as president and chief executive of HP Inc, where he steered the company beyond its traditional PC and printing businesses into services, subscriptions and AI-enabled workplace solutions. He also played a central role in the HP and Hewlett-Packard Enterprise separation, strengthening operational discipline and long-term innovation.
In his first remarks, Lores said PayPal would accelerate innovation while improving speed, accountability and execution, as digital payments face disruption from new technologies, regulation and intensifying competition.
The board thanked outgoing chief executive Alex Chriss for his tenure, highlighting progress in monetising Venmo and expanding the buy-now-pay-later business while modernising the platform.
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UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
