Verizon Communications announced the appointment of Dan Schulman, former Chief Executive Officer of PayPal Holdings, as Chief Executive Officer of Verizon, effective immediately.
Dan Schulman succeeds Hans Vestberg. The telecom operator said Hans Vestberg will continue as Special Advisor of Verizon through October 4, 2026, to ensure a seamless leadership transition and oversee the integration of Frontier Communications, expected to close in the first quarter of 2026.
Mark Bertolini has been elected Chairman of the Verizon.
Verizon Welcomes Dan Schulman as CEO
“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. “Dan is a seasoned and decisive leader with 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.”
Mark Bertolini praised Hans Vestberg, noting his “extraordinary leadership” in spearheading Verizon’s network investments and fostering a culture of innovation. Under Vestberg, Verizon became a global 5G pioneer and initiated the transformative Frontier Communications acquisition — a cornerstone of its broadband expansion strategy.
Dan Schulman’s Proven Leadership Record
Dan Schulman brings extensive leadership experience from the telecom, technology, and financial services sectors. During his tenure as CEO of PayPal Holdings, Dan Schulman led the company’s transformation into a global digital payments powerhouse, tripling revenues from $8 billion to $30 billion, increasing earnings per share fivefold, and expanding its user base to hundreds of millions worldwide.
Before PayPal, Dan Schulman held key executive roles at AT&T, Priceline, Virgin Mobile, and American Express, where he was instrumental in driving growth, innovation, and customer engagement.
Having served on the Verizon Board of Directors since 2018 and as Lead Independent Director since December 2024, Dan Schulman’s deep understanding of Verizon’s strategic direction and operations positions him strongly for this leadership role.
Dan Schulman’s Vision for Verizon
“I believe in Verizon and its future, and I am honored to be chosen to serve as CEO,” said Schulman. “Verizon is at a critical juncture. We have a clear opportunity to redefine our trajectory by growing market share across all segments while driving meaningful financial growth. Our focus will be on maximizing value propositions, reducing costs, and optimizing capital allocation to deliver long-term shareholder value.”
Dan Schulman emphasized his commitment to enhancing customer satisfaction, driving broadband and mobility growth, and restoring Verizon’s leadership in the telecom sector.
Hans Vestberg’s Legacy and Continued Role
Hans Vestberg, who joined Verizon in 2014 and became CEO in 2018, leaves a legacy defined by 5G innovation, network expansion, and strategic investment. He was the architect behind Verizon’s 5G network strategy and led major initiatives such as the purchase of C-Band spectrum to bolster 5G capabilities.
Financial Outlook and Future Direction
Verizon reiterated its 2025 financial guidance and confirmed that it will report Q3 2025 earnings on October 29, 2025. With Dan Schulman’s appointment, Verizon is signaling a renewed focus on growth, operational efficiency, and shareholder returns, building on its foundation of strong network leadership and innovation.
Baburajan Kizhakedath
