After only a few months on the job as Chief Financial Officer at PayPal, Blake Jorgensen has announced that he will be leaving his post, serving in an advisory capacity through September. Jorgensen cited health reasons for stepping down from his current position.
Under normal circumstances, the departure of a C-suite executive would not be momentous news for a major brand like PayPal. However, PayPal’s recent circumstances have been anything but normal: last month Chief Executive Officer Dan Schulman announced his intention to retire at the end of the year, and the company’s heads of Venmo and Omni Payments Solutions also stepped down from their posts within the last year. Such rapid turnover of a major company’s leadership rarely presages anything good, notwithstanding the positivity these executives have maintained while announcing their departures.
“Together, we have reimagined financial services and e-commerce, and worked to improve the financial health of our customers,” said Schulman in a press release on his departure from the company. “PayPal makes a difference every day for its customers and communities and the Company is positioned for a great future.”