Verizon Appoints Former PayPal CEO Dan Schulman as New Chief — Strategic Shift 2025

Verizon Names Former PayPal CEO Dan Schulman as New Chief Executive — A Strategic Shift in Telecom Leadership

On October 6, 2025, Verizon Communications, one of America’s largest telecommunications companies, announced the appointment of Dan Schulman, the former Chief Executive Officer of PayPal, as its new CEO. This leadership change comes at a critical time when Verizon faces slowing wireless growth and increasing competition from rivals such as AT&T and T-Mobile.

Outgoing CEO Hans Vestberg has not been dismissed but will continue as Special Advisor to the Board until October 2026 to ensure a smooth leadership transition. Vestberg, who led Verizon since 2018, played a key role in expanding the company’s 5G infrastructure but struggled to accelerate subscriber growth in recent years.

Dan Schulman, aged 67, is well-known for transforming PayPal into a global fintech powerhouse after successfully separating it from eBay. During his tenure, he focused on innovation, digital finance, and user accessibility — qualities Verizon hopes will translate into new growth opportunities in telecom and digital services.

According to industry analysts, Schulman’s appointment represents a strategic move toward modernizing Verizon’s business model. His background in financial technology and digital transformation could help Verizon integrate advanced payment solutions, AI-driven customer experiences, and digital ecosystems into its wireless services.

In his first statement as CEO, Schulman said Verizon is at a “defining moment” and has a major opportunity to improve its market position, operational efficiency, and customer satisfaction. He emphasized his plans to strengthen Verizon’s presence in AI, broadband expansion, and enterprise connectivity.

Under Vestberg’s leadership, Verizon invested billions in building its 5G network and attempted to diversify into media and digital advertising. However, the company later withdrew from its media ventures and refocused on core telecom services. Schulman is expected to continue that focus while accelerating profitability through innovation and cost efficiency.

Following the announcement, Verizon’s stock fell by approximately 1.5%, indicating investor caution but also optimism about the company’s long-term vision under Schulman’s guidance. Financial experts say his track record of leading global digital transformation at PayPal will bring a “fresh, results-driven mindset” to Verizon’s executive structure.

The appointment also reflects a broader trend in the telecom industry, where companies are hiring leaders from technology and finance sectors to navigate the future of AI, broadband, and digital infrastructure. Schulman’s entry signals Verizon’s intent to reinvent itself as a data-centric, customer-first telecom powerhouse capable of competing in the fast-evolving digital economy.

Verizon’s board expressed confidence in Schulman’s leadership, calling him “a visionary with a proven record of driving growth and innovation.” As he steps in, Verizon’s challenge remains clear — to balance technological expansion with sustained profitability while redefining what connectivity means in the AI-driven era.