PayPal Holdings Inc. legal chief Louise Pentland is giving up her “dream job.”
Pentland announced Tuesday in a LinkedIn post that she’s resigning as the Silicon Valley-based fintech giant’s chief business affairs and legal officer on Jan. 1.
“This has been my dream job,” she wrote.
“I am stepping down to seek renewal and creating space to do that. My landing place may very well be at PayPal and through my discovery, I will continue to be a part of the incredible work we do here,” she added. “None of us are maximizing our potential if we continue in the same role forever. Renewal for you and your teams should be an open discussion and not hidden in the shadows.”
What’s next for Pentland was unclear. She stated that she’s embarking on an “endeavor for renewal,” but did not provide further details.
A PayPal spokeswoman declined a request to interview Pentland.
Pentland has led PayPal’s legal department for seven years. She joined as legal chief but soon took on the added responsibilities of business and corporate affairs and human resources. Serving in those roles during the COVID-19 pandemic has been “both epic and immensely rewarding,” she wrote.
She also noted that she suggested in the spring that PayPal hire a full-time chief HR officer, foreshadowing her forthcoming exit. She also hired her soon-to-be legal chief successor, Bimal Patel, in January.
It was during a fireside chat with one of PayPal’s employee resources groups that Pentland first determined she was ready for a change. The epiphany occurred when she was asked, “When do you know it’s time to go?”
“I had never been asked this question. After a thoughtful pause, I responded, ‘It’s time to renew when you have achieved what you set out to do and when you have made space for the next generation of leaders to step up,’” Pentland wrote.
“I heard my own voice and realized my own truth,” she added.