Srini Venkatesan will be in charge of all technology in the US company | Credit: Photo by Nikolas Kokovlis/NurPhoto via Getty Images

PayPal has hired one of Walmart’s top technology executives as its new CTO, to lead the company’s AI push, Reuters reported on Thursday (20 June).

Srini Venkatesan will lead Paypal’s technology, product engineering and information security, the payments company told Reuters.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

PayPal CEO Alex Chriss called 2024 a “transition year” for the company.

The CEO, who joined the PayPal in September, has significant AI experience, including the announcement of a slew of AI products in January. 

“As we execute our mission to revolutionise commerce globally, Srini’s experience leading technology, digital transformation and AI personalization from inside some of our largest customers and partners will be invaluable,” Chriss said in a statement.

In January, Chriss announced that PayPal would reduce its global workforce by nine percent, impacting approximately 2,500 jobs.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In a letter addressed to the company’s employees, Chriss outlined the decision to streamline operations by implementing both direct staff cuts and the elimination of open positions throughout the year.

“We are doing this to right-size our business, allowing us to move with the speed needed to deliver for our customers and drive profitable growth,” wrote Chriss.