PayPal hires Srini Venkatesan as new CTO
Payments giant PayPal has named industry veteran Srini Venkatesan as its new CTO, effective 24 June.
PayPal’s new CTO Srini Venkatesan (Image: LinkedIn)
In this new position, Venkatesan has been tasked with leading the development and deployment of technology across the “entire PayPal ecosystem”. This remit includes areas such as AI and machine learning, product engineering, analytics and data science, information security and infrastructure operations.
Venkatesan’s “experience leading technology, digital transformation, and AI personalisation from inside some of our largest customers and partners will be invaluable”, comments PayPal president and CEO, Alex Chriss.
PayPal’s new CTO boasts a 30-year fintech career, joining directly from Walmart Global Tech, where he led the US omni and platforms technology unit. Prior to his stint at the retail technology specialist, Venkatesan acted as a VP at Yahoo, CTO at StubHub, and held various director roles at eBay.
Venkatesan takes over the CTO position from Archie Deskus, who has decided to leave PayPal following a two-year tenure at the company.
Speaking on his appointment, Venkatesan plans to leverage his career of creating “new and improved ways for customers to discover, shop, and buy the goods they want and need” to help personalise PayPal users’ “shopping experiences”.
The announcement of the firm’s CTO transition comes after PayPal revealed plans to reduce its workforce by about 9% in 2024, affecting approximately 2,500 positions, as part of efforts to “right-size our business”.
