Who is Dan Schulman, former PayPal CEO and the new Verizon chief succeeding Hans Vestberg?

Verizon Communications Inc. has appointed Daniel Schulman, former Chief Executive Officer of PayPal Holdings Inc., as its new Chief Executive Officer, effective immediately. Mark Bertolini has been appointed Chairman of the Board of Directors at Verizon, marking a concomitant change in leadership. Dan Schulman takes over from Hans Vestberg, who has led the company since 2018.

Hans Vestberg will remain as Special Advisor for one year, starting on October 4, 2026, assisting with the transition and helping to integrate with Frontier Communications, which is to close in the first quarter of 2026. Vestberg will also continue to serve on the board until the Annual Meeting of the company in 2026.

Dan Schulman named Verizon CEO to lead next growth phase

Verizon has named Dan as its next CEO, marking a new step in growth and strategic leadership for the telecom giant. Board Chair Mark Bertolini praised Dan's extensive experience and proven results in driving top work, calling him an ideal choice to guide Verizon's new push for customer-focused plans and financial expansion. In his words (via Verizon):

"The Board is thrilled to have Dan as Verizon's next CEO, and embark on a new chapter of growth and sector leadership. Dan is a seasoned and decisive leader with a unique set of experiences, and a proven record of transformative leadership and operational excellence. He is the right leader to chart Verizon's next phase of increased customer focus and financial growth."

Bertolini also acknowledged the outgoing CEO, Hans Vestberg, for his game-changing lead role, pointing out his part in making Verizon's network better and building a place for new ideas. With the Frontier deal almost done, the Board and Vestberg felt this was the right time to change leaders, giving thanks for his long years of hard work. He continued:

"Hans Vestberg has been an extraordinary leader for Verizon, leading a new era of network investment and creating an innovative culture. Our company is better for his passion and vision. Having created a network that is unmatched and with the upcoming close of the Frontier transaction, the Board and Hans discussed that now is the right time for a CEO transition. On behalf of the entire Board, we thank Hans for his outstanding service to all of Verizon's stakeholders."

Dan Schulman appointed Verizon CEO, bringing a proven track record in scaling global businesses

Verizon has named Mr. Schulman as its new CEO, bringing a wealth of financial and operational expertise from his leadership roles at major public companies. Just before this, as CEO at PayPal Holdings, Inc., Schulman led a huge growth, tripling revenue from $8 billion to $30 billion, multiplying earnings per share by five, and getting the service to hundreds of millions of more users all over the world, according to Verizon. Schulman said (via Verizon):

"I believe in Verizon and its future, and I am honored to be chosen to serve as CEO. Verizon is at a critical juncture. We have a clear opportunity to redefine our trajectory, by growing our market share across all segments of the market, while delivering meaningful growth in our key financial metrics. We are going to maximize our value propositions, reduce our cost to serve, and optimize our capital allocation to delight our customers, and deliver sustainable long-term growth for our shareholders."

He continued saying:

"I want to thank Hans for his remarkable leadership and all he has contributed to Verizon. I deeply appreciate his friendship and support in this transition. I look forward to working with our employees, our regulators, our partners, and the Board to do the hard work it takes to regain our leadership in our sector across mobility and broadband."

His long work life also covers top spots at AT&T, Priceline, Virgin Mobile, and American Express, where he always pushed for growth and big changes. Since being on Verizon's Board in 2018, Schulman was made Lead Independent Director in December 2024 and now takes the helm as the company looks to strengthen its market position and deliver sustainable long-term growth.

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