Hi everybody.

The payments business is uniquely local in nature.  To be successful managing a payments business on a global scale, you have to have a deep understanding of the rules governing each market where  you operate, and a global framework for managing operational and compliance risks.  PayPal is committed to building our business in this model, while being in full compliance with the rules that govern our business around the globe.   

In our effort to keep these high standards, I’m excited to welcome a new member of my executive team, Leonard Shen, as PayPal’s new chief compliance officer.

Leonard comes to us from American Express where he was the chief compliance and ethics officer. During his career, Leonard has been personally recognized as one of the top 10 corporate compliance officers in the United States by Forbes Ethisphere magazine.  Among many other positions he has held in his impressive career, Leonard worked for the US Senate, the Environmental Protection Agency, the Department of Justice and the Ninth Circuit Court of Appeals.  

I’m thrilled to have Leonard join our team.  I am confident that with his fantastic experience, he’ll make lasting contributions to our customers, our employees and our business.   Leonard will report to me and also will have direct reporting relationship to the PayPal board of directors.

As always, we’d love to hear any comments you have about this news or anything else on your mind.

 Best,

 Scott

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