Verizon has named Daniel Schulman, the former PayPal head, as its new chief executive officer. Hans Vestberg, who has led Verizon since 2018, is stepping down from the top role with immediate effect and will stay with the company as a special adviser until October 4, 2026 to support the ongoing integration of Frontier Communications.
Schulman brings a long history with Verizon, having served on the company’s board for seven years. He inherits a business that seeks to accelerate growth across mobility and broadband while improving key financial metrics and shareholder value.
On his first day as CEO, Schulman described the appointment as a homecoming after 25 years in telecoms, noting past leadership roles at AT&T and Virgin Mobile USA.
In outlining his strategy, Schulman said Verizon will “maximize our value propositions, reduce our cost to serve, and optimize our capital allocation” as it pursues faster growth and greater market share across all segments.
Verizon executives have publicly acknowledged challenges in recent quarters, with the company reporting postpaid customer churn in early 2025 and attributing some losses to price increases implemented in January. Schulman’s leadership will be watched closely as the firm navigates competitive pressure in a rapidly evolving telecoms landscape.
The leadership transition at Verizon mirrors broader industry moves; for example, T-Mobile recently announced that COO Srini Gopalan will assume the CEO role later this year, reflecting a wave of changes among the major US carriers.
