Verizon appoints former PayPal CEO Dan Schulman as new chief executive

Verizon has named former PayPal CEO Dan Schulman as its new chief executive to drive innovation and growth

Verizon Communications has announced the appointment of Dan Schulman, the former PayPal CEO, as its new chief executive officer, marking a major leadership shift for one of the world’s largest telecommunications companies.

The move is expected to strengthen Verizon’s focus on digital transformation, innovation, and global expansion.

Schulman, who led PayPal from 2014 to 2023, is credited with modernizing the company’s digital payments infrastructure and significantly increasing its market value. At Verizon, he will be tasked with revitalizing the telecom giant’s growth amid increasing competition in wireless and broadband services.

The announcement was made early Monday, October 6, 2025, with Verizon stock rising slightly in pre-market trading following the news. Schulman will officially assume his new role on November 1, 2025, succeeding current CEO Hans Vestberg, who will transition to an advisory position through mid-2026.

In a press statement, Schulman expressed optimism about Verizon’s future: “Verizon is a cornerstone of global connectivity. I look forward to building on its strong foundation to deliver next-generation network innovation and customer experiences.”

Under Schulman’s leadership, Verizon is expected to further invest in 5G technology, AI-driven customer solutions, and digital payment integrations, areas where he brings extensive expertise from his time at PayPal.

Industry analysts say Schulman’s appointment signals Verizon’s intent to bridge telecommunications with fintech and digital ecosystems, positioning the company as a stronger competitor in an increasingly connected world.

With Schulman at the helm, Verizon is entering a new era aimed at redefining its role in the global technology landscape.