Verizon Communications Inc. announced a significant leadership transition, with its Board of Directors appointing Dan Schulman, former Chief Executive Officer of PayPal Holdings Inc. and current Independent Lead Director, as the company’s new Chief Executive Officer, effective immediately. Concurrently, Mark Bertolini has been elected Chairman of the Verizon Board of Directors. Hans Vestberg, the outgoing CEO, will transition to the role of Special Advisor through October 4, 2026, focusing on ensuring a seamless leadership handover and supporting the integration of Frontier Communications, a $20 billion acquisition expected to close in the first quarter of 2026. Vestberg will also remain on the Board of Directors until the 2026 Annual Meeting.
“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 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 customer focus and financial growth.”
Schulman brings extensive experience in telecommunications, technology, and financial sectors to his new role. His tenure as CEO of PayPal saw the company transform into a global payments platform, tripling its revenue from $8 billion to $30 billion and significantly expanding its customer base. Schulman’s prior leadership roles at AT&T, Priceline, Virgin Mobile, and American Express further underscore his expertise in driving operational excellence and growth. Having served on Verizon’s Board since 2018 and as Lead Independent Director since December 2024, Schulman is well-positioned to guide Verizon into its next phase. His vision centers on increasing market share across all segments, enhancing customer focus, reducing operational costs, and optimizing capital allocation to drive sustainable financial growth.
Vestberg’s eight-year tenure as CEO has been marked by transformative achievements, particularly in establishing Verizon as a global leader in 5G technology. Under his leadership, Verizon became the first company worldwide to launch a 5G network, expanding it to support mobility, home internet, and business services. Strategic investments, including the acquisition of C-Band spectrum, have strengthened Verizon’s network capabilities. The pending Frontier Communications acquisition is a cornerstone of Verizon’s broadband expansion strategy, positioning the company for future growth in connectivity services.
The leadership transition comes at a pivotal moment for Verizon, as it seeks to capitalize on its robust network infrastructure and expand its market presence. Schulman’s appointment signals a focus on innovation, customer satisfaction, and financial discipline, building on the foundation laid by Vestberg. The company reiterated its financial guidance for the full year 2025, reflecting confidence in its strategic direction. Verizon is set to announce its third-quarter 2025 earnings on October 29, 2025, providing further insight into its performance and outlook.
Please add Cord Cutters News as a source for your Google News feed HERE. Please follow us on Facebook and X for more news, tips, and reviews. Need cord cutting tech support? Join our Cord Cutting Tech Support Facebook Group for help.