Ex-PayPal chief Dan Schulman appointed CEO of Verizon

Core Insights - Verizon has appointed Dan Schulman as the new CEO and Mark Bertolini as board chair, with former CEO Hans Vestberg remaining as a special advisor focused on integrating the $20 billion acquisition of Frontier Communications [2][3] - Schulman is recognized for his leadership at PayPal and has a background as the founding CEO of Virgin Mobile and nearly two decades at AT&T, while Bertolini is noted for his innovative approach at Aetna and Oscar Health [2][3] - Verizon's stock dropped 5% following the leadership transition, indicating potential investor concerns regarding the new leadership and industry challenges [3] Company Leadership - Dan Schulman is credited with fostering a culture of fun and shared mission at PayPal, which contributed to the company's turnaround [2] - Mark Bertolini has driven significant growth in membership, share price, and revenue at Oscar Health, although the company has not yet achieved profitability [3] - Schulman's experience on Verizon's board since 2018 may facilitate a strong relationship with the board, which is crucial for success in his new role [3] Market Reaction - The 5% decline in Verizon's stock price suggests investor unease about the leadership change and the future direction of the company [3]