Verizon Communications has appointed Dan Schulman, former PayPal CEO, as its new chief executive, replacing Hans Vestberg, effective immediately.
Vestberg, who led Verizon since 2018, will remain on the board until 2026 and serve as a special adviser to ensure a smooth transition and finalize the company’s $20 billion acquisition of Frontier Communications.
Verizon named Dan Schulman CEO effective immediately, replacing Hans Vestberg, who will stay on through Oct. 4, 2026. John Butler of Bloomberg Intelligence has more https://t.co/JItEfWWvpu pic.twitter.com/9pbWpzDbaU
— Bloomberg TV (@BloombergTV) October 6, 2025
Schulman, who has served on Verizon’s board since 2018, is credited with expanding PayPal’s revenue from $8 billion to $30 billion and adding millions of users. He pledged to drive growth, reduce costs, and enhance shareholder value.
.@Verizon has announced that Dan Schulman has been appointed CEO. Dan has served on Verizon's Board since 2018. He will bring a proven record of transformative leadership and deep telecom industry experience to help us enter our next chapter of growth.https://t.co/Ma3hRFgzMR pic.twitter.com/H5OLuht3Nc
— Verizon News (@VerizonNews) October 6, 2025
The FCC approved Verizon’s Frontier acquisition in May, marking a major step in the company’s broadband expansion strategy. Verizon shares dipped about 2% after the announcement.
Former PayPal CEO Schulman is coming out of retirement to take the lead at the wireless company. https://t.co/U7UIR7Vnu2
— Fast Company (@FastCompany) October 6, 2025
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