Verizon Communications Inc. has announced the appointment of Dan Schulman, the former CEO of PayPal Holdings Inc. and current Independent Lead Director, as its new CEO, effective immediately.
Mr. Schulman brings extensive leadership experience in finance and operations across major public companies, with expertise in telecom, tech, and finance.
As a former CEO of PayPal, he led its transformation into a global payments platform, tripling revenue to $30B, quintupled EPS, and gaining millions of new customers.
His previous senior roles include AT&T, Priceline, Virgin Mobile, and American Express. He has served on Verizon’s board since 2018 and became Lead Independent Director in December 2024.
Today, Schulman told investors, “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… 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,” he concluded.
Shares of Verizon fell more than 3% after the news. The stock has gained 5% year to date.
By CEO NA Editorial Staff
