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PayPal names HP CEO Enrique Lores as CEO, replacing Alex Chriss on March 1, and reports Q4 revenue up 4% YoY to $8.68B, below estimates; PYPL closes down 20.3%

PayPal Holdings Inc. said Chief Executive Officer Alex Chriss will be replaced by HP Inc. CEO Enrique Lores after profit and revenue fell short of expectations.

Bloomberg