Verizon names board member and former PayPal CEO Schulman to its top post

Core Insights - Verizon Communications has appointed Dan Schulman, former CEO of PayPal, as its new CEO, succeeding Hans Vestberg [1][2] - Vestberg will remain as a special adviser until October 4, 2026, focusing on the transition and integration with Frontier Communications [2] - The integration with Frontier Communications is expected to close in the first quarter of next year, which is part of Verizon's strategy to enhance its fiber network [2][3] Leadership Transition - Dan Schulman has been a board member of Verizon since 2018 and served as the lead independent director [2] - Schulman has extensive experience in senior leadership roles at companies such as AT&T, Priceline, Virgin Mobile, and American Express [4] - Vestberg was instrumental in developing Verizon's 5G network strategy and overseeing the $20 billion acquisition of Frontier Communications [3] Strategic Focus - Schulman emphasized that Verizon is at a critical juncture and has the opportunity to redefine its trajectory by increasing market share across all segments [4] - The company aims to deliver meaningful growth in key financial metrics while integrating new technologies such as artificial intelligence and connected smart devices [3][4]