Verizon Names Dan Schulman CEO to Drive Growth

Verizon Communications has named Dan Schulman, the former CEO of PayPal Holdings, as its new Chief Executive Officer, replacing Hans Vestberg. The leadership transition signals a strategic pivot intended to steer the telecommunications giant towards a new phase of accelerated growth and increased market share in the highly competitive wireless sector.

A new chapter of sector leadership

The company’s Board positions the appointment as a deliberate move to leverage a leader with a proven history of transformation and financial performance.

Dan’s extensive background across the technology, financial and telecommunications sectors is seen as a crucial asset for Verizon’s next stage of development.

Discussing Dan’s appointment, Verizon’s Chair of the Board, Mark Bertolini, says: “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 focus and financial growth.”

Verizon states that Dan brings vital expertise from his time leading major corporations, where he consistently fostered innovation and delivered shareholder value, making him uniquely qualified to navigate the challenges and opportunities ahead.

A proven record of transformation at PayPal

Dan’s tenure at PayPal provides a compelling blueprint for the kind of impact Verizon anticipates. He led the digital payments company for nearly a decade before stepping down in 2023, overseeing a period of unprecedented expansion.

During his leadership, he successfully guided PayPal’s transformation into a global payments platform, tripling its revenue from US$8bn to US$30bn. In that same period, earnings per share increased fivefold and PayPal added hundreds of millions of new customers to its platform.

His leadership philosophy extended beyond financial metrics, focusing on building a robust organisational culture. Sharing a message with employees upon his departure from PayPal, he said: “I have a long list of things I want to celebrate with you.

“Of course, our financials are an important arbiter of our shareholders, but the most impactful things we did as a team were that we always tried to take care of each other, pursued our mission and vision and held true to a set of values that mattered to us.

“We didn’t just talk about our values, we acted on them.”

Before joining PayPal, Dan held senior leadership roles at AT&T, Priceline, Virgin Mobile and American Express, providing him with deep-seated experience in the core telecommunications market and adjacent consumer technology industries.

Charting Verizon’s future course

Dan is familiar with Verizon’s operational landscape, having served on its Board of Directors for more than seven years. He was elected Lead Independent Director at the end of 2024, giving him an insider’s perspective on its strategic imperatives.

In a statement, he says: “I believe in Verizon and its future and I am honoured 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.”

Dan further outlined the key areas he will be focusing on during his tenure:

• Maximising value propositions
• Reducing cost to serve
• Optimising capital allocation
• Delivering sustainable long-term growth for shareholders

Ensuring a smooth leadership transition

To facilitate a seamless handover, Hans will remain at Verizon as a Special Advisor. Verizon’s announcement on 6 October 2025 confirmed that Hans will serve in the advisory role until 4 October 2026. A key focus of his advisory capacity will be supporting the integration with Frontier Communications following the landmark US$20 billion acquisition.

The company describes the former CEO as the “architect” of its formidable 5G network. Hans led Verizon’s comprehensive broadband expansion strategy, which included both the major acquisition of Frontier Communications and the aggressive expansion of its 5G networks across the United States.

Reflecting on Hans’ tenure, Mark says: “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 the CEO transition. On behalf of the entire Board, we thank Hans for his outstanding service to all of Verizon’s stakeholders.”

In a post on LinkedIn, Hans expressed his support for his successor, stating that leading Verizon has been the greatest privilege of his career, adding: “Dan has the vision to lead us forward and will guide Verizon into a future of growth and innovation.”