NEW YORK – October 6, 2025 – Verizon Communications Inc. has announced the appointment of Dan Schulman, the former chief executive of PayPal, as its new CEO, effective immediately. The strategic move signals Verizon’s intent to accelerate its evolution beyond traditional telecommunications services and capitalize on new growth opportunities in an increasingly digital economy.
Schulman, known for his transformative leadership at PayPal, where he significantly expanded the company’s digital payment ecosystem and global user base, brings a wealth of experience in financial technology, digital innovation, and consumer-centric strategies. His appointment comes as Verizon aims to fully monetize its extensive 5G network, expand its enterprise solutions, and explore new ventures in areas such as digital services and connected ecosystems.
A Visionary Leader for the Next Chapter
The decision to bring in an outsider with a strong fintech background underscores Verizon’s ambition to redefine its position in the market. Schulman’s tenure at PayPal saw the company grow into a prominent global player in digital commerce and financial services, successfully navigating rapid technological shifts and intense competition.
“Dan Schulman is an extraordinary leader with a proven track record of driving innovation and growth in dynamic industries,” said Hans Vestberg, Verizon’s Chairman of the Board, in a statement announcing the appointment. “His deep understanding of digital ecosystems, customer experience, and his ability to scale businesses globally make him the ideal choice to lead Verizon into its next chapter, leveraging our industry-leading 5G network and robust fiber infrastructure.”
Verizon has been investing heavily in its 5G Ultra Wideband network, aiming to unlock new applications and services for both consumers and businesses. The company’s future growth is expected to rely not just on connectivity, but on the innovative services built upon that connectivity, a domain where Schulman’s expertise is anticipated to be particularly valuable.
Strategic Imperatives and Future Direction
Schulman’s appointment suggests a heightened focus on digital transformation, customer engagement, and potentially new revenue streams beyond core wireless and broadband services. Industry analysts note that his experience at PayPal could inform Verizon’s approach to integrating payments, financial services, and loyalty programs within its existing offerings, or even launching entirely new digital platforms.
“I am incredibly honored and excited to lead Verizon, a company that plays such a critical role in connecting the world,” Schulman remarked. “The opportunity to build on Verizon’s formidable assets – its unparalleled network, talented employees, and commitment to innovation – is immense. I look forward to working with the team to deliver transformative experiences for our customers and drive significant value for our shareholders as we define the future of connectivity and digital services.”
The transition in leadership signals Verizon’s proactive stance in a highly competitive and rapidly evolving technology landscape. With Schulman at the helm, the company is poised to explore new frontiers, aiming to solidify its position not just as a network provider, but as a leading force in the broader digital economy.
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