Dive Brief:
- PayPal promoted Archie Deskus to EVP and CTO on Thursday, a move that will expand the executive's technology oversight. Deskus first joined the financial services company in March 2022 as EVP and CIO.
- In the new role, Deskus will retain her ownership of global information technology operations and add leadership over the platform engineering teams, the company said in an email Thursday.
- Deskus will replace Sri Shivananda, former EVP and CTO, who took on an advisor role and will depart the company at the end of the year, PayPal said.
Dive Insight:
Deskus, a seasoned IT executive with prior stints at Intel, HPE and Ingersoll Rand, will lead the planning, management and transformation of PayPal's technology stacks, systems support and infrastructure, the company said.
PayPal President and CEO Alex Chriss said the IT leadership change was aimed at consolidating oversight of technology teams.
"Bringing our technology, engineering and information teams together under Archie's leadership will foster enhanced accountability, collaboration, accelerate innovation, and fortify the efficiency of our operations," Chriss said in a release.
In her new role, Deskus will continue to report to the CEO. Chriss, who spent nearly 20 years at Intuit in various leadership roles, officially took over the payments company in September.
Technology consolidation is a key priority for PayPal, outlined by Chriss during the company's Q3 2023 earnings call Wednesday.
"In order to maximize this opportunity, it will require technology consolidation and automation across the company," said Chriss, referring to the company's ability to leverage data and scale.
