PayPal Holdings announced a strategic
reorganization of its business and executive leadership team including a new CMO, Antonio Lucio.
Lucio’s official title is chief marketing and corporate affairs officer.
The last person to hold the CMO position at PayPal was Geoff Seeley, who announced last week on LinkedIn that he was leaving the
company.
The goal is to accelerate execution of its long-term growth priorities, streamline decision-making and drive innovation. The company will provide additional details on the
new operating model during its earnings call on May 5, according to a press release.
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Lucio joins PayPal from HP, where he was executive vice president, chief marketing and
corporate affairs officer.
“It was not immediately clear if HP named a replacement for Lucio,” according to Campaign. “During his two years with HP, Lucio led comms surrounding HP’s partnerships with NASA, Real Madrid FC and Scuderia Ferrari
HP. Lucio has had two stints with HP, also serving as the company’s global chief marketing and comms officer from 2015 to 2018. During his first stint with the tech giant, Lucio
led comms HP Inc. when its PC and computer business split from HP.”
HP still has Lucio listed on its executive leadership page.
PayPal is
separating its business into three units: Checkout Solutions and PayPal,
Consumer Financial Services and Venmo, and Payment Services and Crypto.
“To accelerate growth and unlock our full potential, we need to recommit to our
fundamentals—getting much closer to the consumer, aligning the company around three strong businesses, simplifying how we work, sharpening accountability, and prioritizing operational
excellence,” Enrique Lores, President and CEO, PayPal said in a statement.