PayPal Holdings Inc. (NASDAQ: PYPL) announced that Alyssa Henry, former CEO of Block's Square business, has joined the company's board of directors. The appointment was disclosed in a press release statement.

Henry brings over 30 years of experience in global commerce, payments, and technology platforms. She previously served as CEO of Square at Block and led the Square Seller business unit before the corporate rebrand. At Square, she oversaw payments, software, and financial services solutions for millions of businesses worldwide. Prior to Block, Henry held senior leadership roles at Amazon Web Services.

The company also announced that Gail J. McGovern will not stand for re-election at PayPal's upcoming Annual Meeting of Stockholders in May. McGovern has served on the board since 2015.

"Alyssa is a proven operator with deep experience building and scaling payments ecosystems that are critical to merchants," said Enrique Lores, PayPal's president and CEO.

With Henry's appointment, PayPal's board will consist of 12 directors, 11 of whom are independent. Ann Sarnoff, an independent director, will succeed McGovern as chair of the Corporate Governance and Nominating Committee following the upcoming annual meeting.

David Dorman, chair of PayPal's board of directors, stated that Henry "is deeply versed in payments and understands how to deliver meaningful value to customers and shareholders."

Henry said she was "honored to join PayPal's Board of Directors at such a pivotal time for the company and the broader payments ecosystem."