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PayPal welcomes Jamie Miller as new CFO, following leadership shifts

EditorPollock Mondal
Published 11/02/2023, 05:00 PM
© Reuters
PYPL
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Following a series of leadership changes at PayPal (NASDAQ:PYPL) Holdings, Jamie Miller is set to assume the role of Executive Vice President and CFO on Monday. Miller, succeeding interim CFO Gabrielle Rabinovitch, is bringing her extensive 33-year career experience to the global finance organization of PayPal.

Miller's appointment follows the recent transition in PayPal's top leadership. Alex Chriss took over as PayPal's president and CEO on September 27, replacing Dan Schulman, who retired after a nine-year tenure. This shift in leadership has reportedly influenced the company's stock, according to financial analyst Ben Glickman.

Miller boasts an impressive career spanning multiple industries. She held the position of Global CFO at EY, where she led an IPO of its strategy, tax, and consulting business. At Cargill, she was responsible for all financial activities and corporate strategy. During her tenure at General Electric (NYSE:GE), she played a pivotal role in stabilizing the company during a financial crisis and executing a significant corporate transformation.

Her past roles also include Senior Vice President, Controller and Investor Relations at Anthem Inc., Partner at PricewaterhouseCoopers LLP, and she is currently a board member at Qualcomm (NASDAQ:QCOM).

PayPal's CEO, Alex Chriss, expressed his admiration for Miller's financial acumen and leadership skills. As a holder of a B.S. in accounting from Miami University, Miller is eager to contribute to PayPal's profitable growth and efficiency at scale.

InvestingPro Insights

In line with the leadership transition at PayPal, it's worth noting some key observations from InvestingPro. The company has been aggressively buying back shares, a move that could be interpreted as management's confidence in the future of the business. Additionally, PayPal yields a high return on invested capital, which is a positive indicator of the company's efficiency in generating profits.

InvestingPro data provides further insight into PayPal's financial standing. As of Q2 2023, PayPal had a market cap of 56.72B USD, and a P/E ratio of 14.31, which is relatively low compared to its near-term earnings growth. This could be an indication of the stock being undervalued. Furthermore, the company's revenue growth was at 8.21% over the last twelve months as of Q2 2023, demonstrating a consistent increase in earnings.

It's worth noting that these are just a couple of the many insights available on InvestingPro. For a comprehensive understanding of PayPal's financial performance and potential investment opportunities, consider exploring the full range of InvestingPro Tips and data.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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