Verizon has named a new chief executive. Lead independent director Daniel Schulman will take the helm from Hans Vestberg. https://t.co/0BDPhXFIIo ...

Dan Schulman, CEO, Paypal speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020.Verizon announced on Monday that the board of directors has appointed former PayPal CEO Dan Schulman as the company's new CEO.Schulman replaces Hans Vestberg, who led the company since 2018.Shares of the company rose slightly following the announcement.Verizon said Vestberg will remain on the board of directors until the 2026 annual meeting and will serve as a special advisor through Oct. 4, 2026, ensuring a ...

Verizon named Dan Schulman chief executive officer, replacing Hans Vestberg effective immediately https://t.co/zER0bSPsbs ...

Core Insights - Verizon Communications has appointed Dan Schulman, former CEO of PayPal, as its new CEO, replacing Hans Vestberg to navigate the company through slowing growth in the wireless market [1][2] - The leadership change occurs amid increasing competition and a decline in subscriber growth, with consumers showing reluctance to purchase premium plans [1][3] Company Overview - Hans Vestberg, who has been CEO since 2018, will continue to serve as a special adviser until October 4, 2026 [2] - During Vestberg's tenure, Verizon made significant investments in 5G networks and attempted to diversify its revenue streams through media and enterprise services, although it later divested most of its media assets [3] Industry Context - Verizon is facing intensified competition from rivals AT&T and T-Mobile US as the U.S. wireless market matures, leading to pressure on its stock performance compared to competitors [3] - The recent CEO change at Verizon follows a similar leadership transition at T-Mobile, indicating a shift in the U.S. telecom sector as companies strive to attract consumer spending amid fierce competition [4]

Verizon said on Monday former PayPal CEO Dan Schulman will take over as CEO of the telecom operator effective immediately. ...

Group 1 - The company is facing intense competition within the industry, which is impacting its pricing strategies and customer acquisition efforts [1]

Core Insights - Verizon Communications Inc. has appointed Dan Schulman, former CEO of PayPal, as its new Chief Executive Officer, effective immediately [2][3] - Mark Bertolini has been elected as the Chairman of the Board of Directors, while Hans Vestberg will serve as a Special Advisor until October 4, 2026 [2][3] - The company reiterated its full-year 2025 financial guidance, with third-quarter earnings set to be reported on October 29, 2025 [6] Leadership Transition - Dan Schulman is recognized for his transformative leadership and operational excellence, having previously tripled PayPal's revenue from $8 billion to $30 billion and significantly increased its customer base [3] - Hans Vestberg, who has led Verizon through significant network investments and the development of its 5G strategy, will assist in the transition and remain on the Board until the 2026 Annual Meeting [3][5] - The transition is seen as timely, coinciding with the upcoming acquisition of Frontier Communications, which is expected to close in the first quarter of 2026 [2][4] Strategic Focus - Schulman aims to redefine Verizon's trajectory by increasing market share and enhancing key financial metrics, focusing on customer satisfaction and sustainable growth [4] - The company plans to optimize capital allocation and reduce costs to serve, ensuring long-term value for shareholders [4] - Verizon's 5G network strategy, developed under Vestberg's leadership, is a cornerstone of its growth and competitive positioning in the telecommunications sector [5] Financial Performance - Verizon generated revenues of $134.8 billion in 2024, indicating a strong market presence and operational capacity [7] - The company is committed to maintaining its financial guidance for 2025, reflecting confidence in its operational strategies and market conditions [6]

This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Dive Brief: Former Fiserv Chief Executive Frank Bisignano, who left the payments processor earlier this year after President Donald Trump tapped him to lead the Social Security Administration, has been appointed as CEO of the Internal Revenue Service as well. Treasury Secretary Scott Bessent, who is acting commissioner for the IRS, announced Bisignano’s appoin ...

Verizon Communications Inc. (NYSE:VZ) is one of the Best and Cheap Stocks to Buy Right Now. On October 1, Geotab announced the acquisition of the commercial operations of Verizon Communications Inc. (NYSE:VZ)’s Connect telematics business in several countries, including the UK, Ireland, Italy, France, Germany, the Netherlands, Poland, Portugal, and Australia. Management noted the acquisition does not include the company’s Connect products, engineering, and other non-sales-focused teams. Geotab operates in ...

Core Insights - Verizon Business has launched the GE Vernova MDS™ Orbit, an industrial wireless platform designed for utility companies to secure and manage their networks and assets, now available on Verizon's network [1][2] - The MDS™ Orbit platform aims to support utilities in their digital transformation by providing a resilient and efficient communication solution for critical applications such as SCADA and automation [2][3] - This collaboration between Verizon and GE Vernova enhances the capabilities of utility companies to modernize their grid operations and improve energy service resilience [3] Company Overview - Verizon Communications Inc. generated revenues of $134.8 billion in 2024 and serves nearly all Fortune 500 companies, focusing on mobility, reliable connectivity, and security [5] - GE Vernova Inc. is a global energy company with approximately 75,000 employees across 100 countries, dedicated to leading the energy transition while electrifying and decarbonizing the world [6]