Verizon Appoints Dan Schulman as CEO

Verizon appointed Dan Schulman, the former PayPal CEO and founding CEO of Virgin Mobile USA, as its new chief executive effective immediately, replacing Hans Vestberg. Vestberg will remain at the company as a special advisor through Oct. 4, 2026 to help integrate Verizon’s $20 billion Frontier Communications acquisition, which is expected to close in Q1 2026. The leadership change comes as Verizon faces slowing U.S. wireless subscriber growth, heightened competition from AT&T and T‑Mobile, pricing pressures and weaker demand for premium plans. Board chair Mark Bertolini said Schulman’s track record transforming PayPal positions him to pursue market-share gains and meaningful financial growth across segments. Verizon reiterated its full-year 2025 guidance, said it will report third-quarter results on Oct. 29, and continues to push broadband and video distribution strategies through fiber expansion and streaming partnerships.