Verizon named Dan Schulman CEO effective immediately. Schulman, former CEO of PayPal, is a Verizon board member and a telecommunications veteran.
Schulman replaces Hans Vestberg, who will stay with the company in an advisory role for a year. Verizon also named Mark Bertolini chairman of the board.
The leadership change comes as Verizon is transforming via the acquisition of Frontier Communications. Vestberg led Verizon through the 5G transition.
Schulman brings an interesting mix of experience to Verizon. He was CEO of PayPal, but also had leadership roles at AT&T, Priceline, Virgin Mobile and American Express.
In a statement, Schulman said:
"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."
Verizon reaffirmed its outlook for 2025.
- Verizon bets on AI experiences, Google Cloud to bring down churn
- Verizon launches AI Connect, courts AI inferencing workloads
Here's a look at Schulman's experience.
