(CTN News) – During a recent meeting with its board of directors, PayPal announced that it had named three new executives to head up the development of its new business units.
Isabel Cruz has become chief people officer for the payments giant as of Wednesday (Nov. 15), while Michelle Gill is taking over as CEO for the company’s new financial services and small business division, and Diego Scotti has been named executive vice president and general manager for the company’s consumer division and global marketing communications division.
Alex Chriss, PayPal’s president and CEO, said in a news release: “We’re redesigning PayPal so our teams can create products and experiences that meet our customers’ needs.” “I am pleased to welcome world-class leaders to PayPal who are committed to our mission and possess the expertise to help expand our global business.”
These appointments mark the launch of three new business units for PayPal, including those for consumers and small businesses, as well as one for large corporations.
Chriss stated, “By organizing our teams into defined business units, we are able to deliver with increased speed and package our innovations in a way that differentiates us in the market.
Previously, Cruz served as Walmart’s senior vice president and people leader for its global technology, services, and corporate teams.
He joined PayPal from Verizon,
Where he was executive vice president and chief marketing officer. Formerly, Gill was senior vice president for QuickBooks at Intuit, as well as a senior executive at Goldman Sachs and SoFi.
Moreover, PayPal has appointed a new CEO with Chriss following the retirement of Dan Schulman, as well as hiring a new chief financial officer with the departure of Blake Jorgensen, who was replaced by Gabrielle Rabinovitch as PayPal’s new CFO.
Meanwhile, PYMNTS wrote earlier this month that PayPal’s commitment to security and consumer trust had played a huge role in the company’s success.
Approximately sixty percent of consumers say they trust PayPal with their payment credentials more than they trust their bank, according to that report.
There are two things that are important when it comes to being at the top of your wallet: credibility and security. A recent study released by PYMNTS Intelligence found that one in three consumers report that having control over their payment information is one factor that would make shopping online more comfortable for them, and that might influence their future decisions when choosing how to pay.