PayPal (NASDAQ:PYPL), a leader in the digital payment space generating $31.5 billion in revenue, has not yet announced a successor for Kim's role. The company's headquarters are located at 2211 North First Street, San Jose, California.This development comes as part of standard corporate governance procedures and is based on information contained in a press release statement filed with the SEC.
The financial terms of the severance package were not disclosed in the filing. For comprehensive analysis and additional insights, investors can access the full PayPal research report on InvestingPro, which includes detailed financial health metrics and future growth projections.
The Agreement entitles Kim to a severance package that includes severance pay, a bonus for the fiscal year 2024 under the Annual Incentive Plan, continued health benefits, equity award treatment, and outplacement services. These benefits are in line with the company's Executive Change in Control and Severance Plan, which defines the terms of a "Qualifying Termination."
The severance plan was detailed in a previous SEC filing on July 25, 2024, and includes a release of claims and ongoing adherence to restrictive covenants by Kim as part of the separation terms.
PayPal, a leader in the digital payment space, has not yet announced a successor for Kim's role. The company's headquarters are located at 2211 North First Street, San Jose, California.
In other recent news, PayPal has been a focus among analysts. Jefferies has sustained a Hold rating on PayPal, emphasizing the importance of the company's branded Total (EPA:TTEF) Payment Volume (TPV) growth for its future success. Susquehanna analysts have also shown optimism, raising their price target on PayPal shares due to the company's consistent financial performance and potential for sustained mid-single-digit growth. Similarly, Keefe, Bruyette & Woods (KBW) has expressed optimism about PayPal's ability to surpass gross profit growth expectations for 2025.
However, PayPal is also facing a lawsuit alleging racial bias in its investment program, which has reportedly cost businesswoman Nisha Desai and her venture capital firm millions of dollars. This lawsuit pertains to a $535 million investment initiative by PayPal, designed to support Black and minority-owned businesses.
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