According to the Daily Planet, PayPal has hired former Intuit executive Alex Chriss as its new CEO and president. Chriss previously served as executive vice president and general manager of Intuit's small business and self-employed division, a provider of financial management solutions. Chriss will succeed current PayPal CEO Dan Schulman on September 27 and will join the company's board of directors. In February of this year, PayPal announced that Schulman would retire in the coming months and he would remain on the board until the next annual shareholders meeting in May next year.