PayPal (NASDAQ: PYPL) has been one of the worst stocks to own in 2023. While the broader market has enjoyed significant gains, PayPal shareholders have been left in the dust, and the stock is down around 13% this year.

However, recent news of PayPal's new CEO could get investors excited as his background fits nicely into PayPal's best business segment. Can this news revitalize the stock? Or is it time to move on from PayPal? Let's find out.

Earlier in August, PayPal named Alex Chriss its new CEO. Chriss was formerly the executive vice president of Intuit's small business and self-employed group, which is its largest division by revenue. His accomplishments in that role were quite impressive, but what has me most excited about his leadership is his focus on small businesses and individuals.

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Source Fool.com