{"id":22738,"date":"2025-10-09T17:04:51","date_gmt":"2025-10-09T16:04:51","guid":{"rendered":"https:\/\/telecomkh.info\/?p=22738"},"modified":"2025-10-09T17:04:51","modified_gmt":"2025-10-09T16:04:51","slug":"verizon-announces-ceo-transition","status":"publish","type":"post","link":"https:\/\/telecomkh.info\/?p=22738","title":{"rendered":"Verizon announces CEO transition"},"content":{"rendered":"

Board of directors appoints independent lead director and former CEO of PayPal, Dan Schulman, as Chief Executive Officer<\/strong><\/p>\n

Verizon Communications Inc. announced that its Board of Directors has appointed Independent Lead Director and former Chief Executive Officer of PayPal Holdings Inc. Dan Schulman as Chief Executive Officer, effective immediately. Mark Bertolini has been elected Chairman of the Verizon Board of Directors. Mr. Vestberg will also remain on the Board of Directors until the 2026 Annual Meeting.
\n\u201cThe Board is thrilled to have Dan as Verizon\u2019s next CEO, and embark on a new chapter of growth and sector leadership,\u201d said Verizon Board Chair Mark Bertolini. \u201cDan is a seasoned and decisive leader with a unique set of experiences, and a proven record of transformative leadership and operational excellence. He is the right leader to chart Verizon’s next phase of increased customer focus and financial growth.\u201d
\nMr. Bertolini continued, \u201cHans Vestberg has been an extraordinary leader for Verizon, leading a new era of network investment and creating an innovative culture. Our company is better for his passion and vision. Having created a network that is unmatched and with the upcoming close of the Frontier transaction, the Board and Hans discussed that now is the right time for a CEO transition. On behalf of the entire Board, we thank Hans for his outstanding service to all of Verizon\u2019s stakeholders.\u201d
\nMr. Schulman brings to Verizon a unique combination of financial and operational leadership experience with large public companies, and deep expertise in the telecommunications, technology, and financial sectors. In his most recent role as the CEO of PayPal Holdings, Inc., Mr. Schulman led the company\u2019s successful transformation to a global payments platform, tripling revenue from $8B to $30B, growing EPS five-fold and adding hundreds of millions of new customers to the PayPal platform around the globe. During his career, Mr. Schulman has held senior leadership roles at AT&T, Priceline, Virgin Mobile and American Express, driving significant change and growth. Mr. Schulman has served on the Verizon Board of directors since 2018 and was elected Lead Independent Director in December 2024.
\n\u201cI believe in Verizon and its future, and I am honored to be chosen to serve as CEO,\u201d said Mr. Schulman. \u201cVerizon is at a critical juncture. We have a clear opportunity to redefine our trajectory, by growing our market share across all segments of the market, while delivering meaningful growth in our key financial metrics. We are going to maximize our value propositions, reduce our cost to serve, and optimize our capital allocation to delight our customers, and deliver sustainable long-term growth for our shareholders. I want to thank Hans for his remarkable leadership and all he has contributed to Verizon. I deeply appreciate his friendship and support in this transition. I look forward to working with our employees, our regulators, our partners, and the Board to do the hard work it takes to regain our leadership in our sector across mobility and broadband.\u201d
\n\u201cOver the last eight years, I\u2019ve had the privilege of working alongside some of the most talented and dedicated people in the industry, and together we\u2019ve built a network that truly connects people to what matters most. As the Board and I discussed, with the pending acquisition of Frontier, it is a good time to pass the baton to Dan. I do this with immense pride and deep gratitude. Verizon\u2019s future is in excellent hands, and I\u2019ll be cheering the team on every step of the way,\u201d said Mr. Vestberg.
\nMr. Vestberg is the architect of Verizon\u2019s 5G network strategy, which powers and empowers how Verizon customers live, work and play. Under Mr. Vestberg\u2019s leadership, Verizon was first in the world to 5G and it has since expanded the 5G network nationally for mobility and home internet and business services. Mr. Vestberg has executed transformational investments that have set Verizon up for success, including the purchase of C-Band spectrum to power the company\u2019s 5G leadership and the pending $20 billion acquisition of Frontier Communications, which is a cornerstone of Verizon\u2019s broadband expansion strategy.<\/p>\n

Above, Dan Schulman \/ image credited to Verizon\u00a0<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Board of directors appoints independent lead director and former CEO of PayPal, Dan Schulman, as Chief Executive Officer Verizon Communications Inc. announced that its Board of Directors has appointed Independent Lead Director and former Chief Executive Officer of PayPal Holdings Inc. Dan Schulman as Chief Executive Officer, effective immediately. Mark Bertolini has been elected Chairman … <\/p>\n

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