PayPal CFO Jorgensen to step down following leave of absence

PAYPAL Holdings said chief financial officer (CFO) Blake Jorgensen will step down following a leave of absence for health reasons, amid a shuffle of upper management at the online-payments platform.

Gabrielle Rabinovitch, who was named acting chief financial officer when Jorgensen’s leave of absence began in September, will continue in that role, PayPal said in a statement. She is also treasurer and senior vice president of investor relations.

Last month, PayPal said longtime chief executive officer Dan Schulman will retire at year-end. Schulman, 65, will continue to work with the board, which is enlisting a search firm to find a successor. Other high-profile executives have departed, including finance chief John Rainey, Venmo head Darrell Esch and omni payments leader Jim Magats.

Jorgensen was CFO only since August after Rainey had decamped for Walmart. He will remain with the company as a senior adviser through Sep 15, according to the statement.

Rabinovitch has been at PayPal since 2016, her LinkedIn profile shows. Before that, she was an investor-relations executive at Williams-Sonoma, and had worked at firms including Bank of America and Morgan Stanley, PayPal said. BLOOMBERG