PayPal Holdings (PYPL) just unveiled an announcement.
John Donahoe has stepped down as Chair and member of the Board of Directors at PayPal Holdings, Inc., with Enrique Lores taking over as the new Chair. This change comes without any internal disputes and accompanies a downsizing of the Board. Additionally, PayPal’s Compensation Committee has revised its executive severance plan, reducing severance benefits and altering conditions for their payout, while aligning non-competition clauses with current laws and practices. These amendments will not affect executives with existing contracts unless mutually agreed upon.
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