PANews reported on February 3rd that PayPal (PYPL.O) announced that CEO Alex Chriss will be replaced by HP CEO Enrique Lores, following the company's announcement of lower-than-expected profits and revenue. PayPal's stock price plummeted as much as 16% in pre-market trading. According to the statement, Chief Financial Officer Jamie Miller will serve as interim CEO until Lores officially takes office on March 1st. Fourth-quarter earnings missed expectations, with the company citing weak U.S. retail spending and headwinds in international business. Another statement showed that online checkout growth for the PayPal brand slowed to 1%, down from 6% a year ago. Fourth-quarter earnings per share were $1.23, and total revenue was $8.68 billion, both below analysts' expectations for the quarter.