With PayPal stock down 80%, finance chief Jamie Miller steps in as interim CEO

Good morning. Turnover continues in the Fortune 500, with PayPal offering the latest example of boards turning to finance leadership during periods while under pressure.

The payments giant announced on Tuesday that CEO Alex Chriss is stepping down after two and a half years. Enrique Lores, CEO of HP Inc., is set to take over on March 1. PayPal’s chief financial and operating officer, Jamie Miller, will serve as interim CEO.

The move follows continued shareholder frustration.