Verizon has announced Dan Schulman as its new CEO (chief executive officer), effective immediately. Dan was the former chief executive officer of PayPal Holdings, and he will replace Hans Vestberg. Furthermore, Mark Bertolini is the chairman of the Verizon board of directors. Hans Vestberg will continue to serve as special advisor through October 4th, 2026.

Dan Schulman is Verizon’s new CEO

The company notes that Dan is the right person to “chart Verion’s next phase” of increased customer focus and financial growth. Schulman has served on Verizon’s board of directors since 2018 and was elected lead independent director in December 2024. “The Board is thrilled to have Dan as Verizon’s next CEO and embark on a new chapter of growth and sector leadership,” said Verizon Board Chair Mark Bertolini. 

During his tenure, Vestberg will ensure a smooth transition, including the integration with Frontier Communications, which should close in the first quarter of 2026. Vestberg will remain on the board of directors until the 2026 annual meeting. 

Dan Schulman was the former CEO of PayPal Holdings

“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,” said Dan Schulman.

Dan, in his previous role as the CEO of PayPal, led the company’s successful transformation to a global payments platform. The revenue tripled from $8 billion to $30 billion and added hundreds of millions of new customers to PayPal. Besides this, Dan held senior leadership roles at AT&T, Priceline, Virgin Mobile, and American Express.

Under Vestberg, Verizon is the first in the world to launch 5G. It even expanded the 5G network nationally for mobility and home internet and business service. He also executed transformational investments, including the purchase of C-Band spectrum and the pending $20 billion acquisition of Frontier Communications.
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