PayPal Holdings, Inc. (PYPL, Financial) has announced that John Kim, the company's Executive Vice President and Chief Product Officer, will be leaving the company. This decision follows a Separation Agreement entered into on January 20, 2025, with Mr. Kim's departure set for March 31, 2025.
Under the terms of the PayPal Holdings, Inc. Executive Change in Control and Severance Plan, Mr. Kim's departure qualifies as a "Qualifying Termination." As a result, he is entitled to receive a severance pay benefit, treatment under the Annual Incentive Plan (AIP) bonus, health benefits, equity award treatment, and outplacement services. These benefits are provided in exchange for a release of claims and adherence to restrictive covenants, as outlined in the company's plan.
This strategic move is part of PayPal's ongoing efforts to align its leadership team with its evolving business objectives. Investors and stakeholders will be closely monitoring the transition and its potential impact on the company's product strategy and market performance.
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