PayPal to Appoint Outgoing Chairman and CEO of EY, Carmine Di Sibio as Independent Director

On March 28, the Boards of PayPal Holdings, Inc. announced the intention to appoint Carmine Di Sibio, the outgoing Global Chairman and CEO of EY, to its Board of Directors as an Independent Director, effective July 1, 2024.

Di Sibio has been with EY, one of the world’s largest professional services organisations, since 1985, overseeing more than 380,000 employees across 150 countries. He assumed the role of Global Chairman and CEO in 2019, having previously served as EY’s Global Managing Partner – Client Service. Di Sibio has played a key role in driving EY’s innovation initiatives, including the establishment of the Global Innovation team aimed at revolutionizing the firm’s use of technology to enhance existing services and develop new solutions. Throughout his tenure at EY, he has acted as an Advisory and Assurance partner for numerous major financial services clients, holding various leadership positions such as Chair of the Global Financial Services Markets Executive and Regional Managing Partner for the Americas Financial Services Organisation (FSO), where he initiated EY Risk Management and Regulatory Services.

Di Sibio has announced his retirement from EY in June 2024. As per EY’s policies, he will be eligible to join a public company Board upon his retirement.

Furthermore, Belinda Johnson, a director since 2017, has informed PayPal that she will retire from the Board and will not seek re-election at the 2024 Annual Meeting of Stockholders in May.