PayPal cuts CEO Schulman's pay to $22m

PayPal cuts CEO Schulman's pay to $22m

PayPal's outgoing CEO Dan Schulman saw his pay fall by 32% to $22 million last year after the company failed to meet financial targets.

Schulman's $22 million compensation package for 2022 includes $20.2 million in stock awards, according to a filing. The CEO made $32 million in 2021.

PayPal said Schulman led PayPal “through a challenging period of macroeconomic uncertainty, geopolitical instability, slowing e-commerce growth and a return to pre-pandemic consumer behaviours”.

But the firm missed revenue, adjusted operating margin and net new active users targets for the year.

In February, the longstanding CEO who began his tenure in 2014, announced that he will retire at the end of the year.

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