PayPal Holdings, Inc. (NASDAQ:PYPL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 10, 2018, PayPal Holdings, Inc. (the “Company”) reported that Tomer Barel, Executive Vice President, Chief Enterprise Services Officer, will be stepping down from his current role at the end of January. The Company and Mr. Barel entered into a separation agreement on January 8, 2018, which provides for severance and other benefits, effective April 1, 2018, consistent with the terms specified in the letter agreement between the Company and Mr. Barel dated August 22, 2017, previously filed with the Securities and Exchange Commission (“SEC”) as Exhibit 10.01 to the Company's Quarterly Report on Form 10-Q for the period ending September 30, 2017, which was filed with the SEC on October 24, 2017.
About PayPal Holdings, Inc. (NASDAQ:PYPL)
PayPal Holdings, Inc. (PayPal) is a technology platform company that enables digital and mobile payments on behalf of consumers and merchants across the world. The Company allows businesses of all sizes to accept payments from merchant Websites, mobile devices and applications, and at offline retail locations through a range of payment solutions. Its combined payment solution capabilities, including its PayPal, PayPal Credit, Braintree, Venmo and Xoom products, comprise its Payments Platform. It allows its customers to use their account to both purchase and be paid for goods, as well as transfer and withdraw funds. A consumer can typically fund a purchase using a bank account, a PayPal account balance, a PayPal Credit account, a credit or debit card or other stored value products, such as coupons and gift cards. The PayPal, Venmo, and Xoom products allow friends and family to transfer funds to each other, including cross border transfers using several of these funding sources.