Over the past 12 months, shares of PayPal Holdings (NASDAQ: PYPL) have plunged almost 40%, whereas the S 500 is up about 4%. The financial technology (fintech) pioneer has missed out on the broad market rebound because investors are understandably apprehensive: Longtime CEO Dan Schulman is set to retire and the future of PayPal lies with some unknown successor.

That is, the successor was unknown until now. On Monday, PayPal named Intuit's Alex Chriss as its new president and CEO. Here's what investors need to know.

Chriss is joining PayPal after 19 years at Intuit, a global fintech company focusing on tax preparation software, small-business software, and more. The business segment Chriss led for the past four years, the Small Business and Self-Employed Group, accounted for roughly one-third of Intuit's total revenue in its most recent quarter.

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Source Fool.com