Verizon appoints a new CEO for the “next phase” after its 5G deployment

Verizon chose the former Paypal chief, Dan Schulman, to serve again CEO while the company is entering its “next growth phase,” said Chairman of the Board of Directors of Verizon, Mark Bertolini, during the announcement on Monday. From today, Schulman will replace the outgoing CEO Hans Vestberg, who will now be a special advisor until October 4, 2026.

After having held management positions through AT&T, Priceline, Virgin Mobile and American Express, Schulman was appointed CEO of Paypal in 2014 after the company’s break with Ebay. Schulman resigned in 2023 and was replaced by the former Product Manager of Intuit, Alex Chriss. The exchange of the CEO of Verizon comes just a few weeks after the CEO of T-Mobile, Mike Sievert, resigned, with the chief of the carrier’s operation, Srini Gopalan, taking his place.

“We have a clear opportunity to redefine our trajectory, by increasing our market share in all market segments, while providing significant growth in our main financial measures,” said Schulman in the press release. “I can’t wait to work with our employees, regulators, partners and the board of directors to do the hard work necessary to regain our leadership in our sector through mobility and broadband.”