Verizon Communications Inc. ($VZ) announced Monday that former PayPal CEO Dan Schulman has been appointed as its new chief executive officer, replacing Hans Vestberg effective immediately. Vestberg will remain with the company as a special adviser through October 4, 2026, to assist in the transition.
The leadership change marks a significant shift for the telecom giant as it continues to navigate challenges in subscriber growth and competition in the U.S. wireless market. Schulman, who led PayPal for nearly a decade before stepping down in 2023, brings extensive experience in digital finance and technology-driven strategy.
- Dan Schulman appointed CEO of Verizon effective immediately.
- Hans Vestberg to serve as special adviser through October 2026.
- Shares of Verizon rose 1.3% in premarket trading following the announcement.
- Schulman previously served as CEO of PayPal and held executive roles at American Express and Sprint.
Relevant Companies
- Verizon Communications ($VZ) — Leadership transition may influence strategic direction and investor sentiment.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
