Core Insights - Verizon Communications Inc. has appointed Dan Schulman, former head of PayPal, as the new Chief Executive Officer effective immediately, marking a new chapter for the company [1] - The Board expressed confidence in Schulman's leadership abilities to drive customer focus and financial growth [2] Leadership Background - Dan Schulman has been a member of Verizon's board since 2018 and has over four decades of experience in leadership roles at various companies including PayPal, American Express, and AT&T [3] - He is recognized for his commitment to global financial inclusion and is a life member of the Council on Foreign Relations [3] Education and Personal Interests - Schulman holds a BA from Middlebury College and an MBA from New York University's Leonard N. Stern School of Business, and he is also passionate about mixed martial arts [4] Awards and Recognition - Schulman has received numerous accolades, including being named one of Fortune's top 20 Businesspersons of the Year and securing third place in Fortune's list of the World's Greatest Leaders in 2021 [5][6] Vision as CEO - In his statement, Schulman emphasized Verizon's critical juncture and the opportunity to redefine its trajectory by increasing market share and improving key financial metrics [7] - He aims to maximize value propositions, reduce service costs, and optimize capital allocation to enhance customer satisfaction and ensure sustainable long-term growth for shareholders [7]

Core Insights - Verizon has appointed Dan Schulman, former CEO of PayPal, as its new CEO, marking a significant leadership change aimed at initiating a "new chapter of growth" for the company [1][2] - Hans Vestberg, the previous CEO, will transition to a special advisor role until October 4, 2026, focusing on the integration of Frontier Communications, a pending $20 billion acquisition [2][3] Leadership Background - Dan Schulman has extensive experience in leadership roles across various sectors, including telecommunications and financial services, having served as CEO of PayPal from 2014 to 2023 and held positions at American Express, Sprint Nextel, Virgin Mobile, Priceline.com, and AT&T [4][5] - Mark Bertolini, CEO of Oscar Health, has been appointed as chairman of the board of directors, indicating a shift in governance alongside the new CEO [3][4] Strategic Vision - Schulman emphasized the need for Verizon to redefine its trajectory by increasing market share and enhancing key financial metrics, aiming for sustainable long-term growth [5] - The company plans to maximize value propositions, reduce costs, and optimize capital allocation to improve customer satisfaction and shareholder value [5] Financial Guidance - Verizon reiterated its financial guidance for the full year of 2025 and is set to report its third-quarter earnings on October 29 [5] - The company is exploring synergies between telecommunications and financial services, as evidenced by its recent partnership with Santander's U.S. digital banking platform [6]

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]

Core Viewpoint - Daniel Schulman is taking over as the carrier seeks to stop customers from switching to its rivals [1] Group 1 - The company is experiencing challenges in retaining customers [1] - The leadership change is aimed at addressing competitive pressures in the market [1]

Core Points - Verizon appointed Dan Schulman, former CEO of PayPal, as the new CEO, replacing Hans Vestberg who led the company since 2018 [1] - Following the announcement, Verizon's shares experienced a slight increase [1] - Hans Vestberg will remain on the board of directors until the 2026 annual meeting and will serve as a special advisor until October 4, 2026, to ensure a smooth transition [2] - Mark Bertolini has been appointed as the chairman of Verizon's board of directors [2]

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

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 ...

Core Insights - Spanish telecoms group Telefonica plans to lay off at least 6,000 employees across several units before the end of the year [1] Company Actions - The layoffs are part of a broader restructuring strategy aimed at improving operational efficiency and reducing costs [1] - The decision reflects ongoing challenges within the telecom industry, including increased competition and pressure on profit margins [1] Industry Context - The telecom sector is facing significant changes, with companies needing to adapt to evolving market conditions and consumer demands [1] - Layoffs in the industry are becoming more common as firms seek to streamline operations and enhance profitability [1]

Core Insights - The decision of Ford Motor Company's CEO, Jim Farley's son, to become a mechanic instead of pursuing a college education has sparked a broader discussion on the value of blue-collar jobs in the "essential economy" [1][5] - The conversation highlighted the growing trend among Gen Z to question the necessity of a traditional college degree, especially in light of rising education costs and lucrative opportunities in skilled trades [5][2] Industry Trends - There is a significant disparity in the workforce, with five skilled tradespeople retiring for every two entering, indicating a potential skills gap in the labor market [2] - The rising costs of college education have outpaced inflation for other goods and services, contributing to the skepticism surrounding the value of a college degree [2] Government and Educational Perspectives - Labor Secretary Lori Chavez-DeRemer emphasized the need for collaboration among government, educators, and industry to enhance the appeal of skilled trades to younger generations [3] - Trade school graduates have the potential to earn more than their college-educated counterparts, suggesting a shift in the perception of vocational training [3] Technological Impact - Despite concerns regarding AI and robotics potentially replacing human jobs, panelists expressed optimism, viewing AI as a tool to enhance the essential workforce rather than a replacement [4]