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Verizon Appoints Former PayPal Boss as New CEO Effective Immediately
6 Oct
Summary
- Verizon names Dan Schulman as new CEO, replacing Hans Vestberg
- Vestberg to serve as special advisor until October 2026
- Verizon shares rise 1.3% in premarket trading
On October 6th, 2025, Verizon announced a major leadership transition, appointing former PayPal CEO Dan Schulman as its new chief executive officer. Schulman will be taking over the role immediately, replacing Hans Vestberg, who has served as Verizon's CEO since 2018.
Vestberg will remain with the company in a special advisory capacity through October 4th, 2026, ensuring a smooth transition of power. This change in leadership comes as Verizon looks to navigate the rapidly evolving telecommunications landscape and capitalize on emerging technologies and market opportunities.
Investors have reacted positively to the news, with Verizon's shares rising 1.3% in premarket trading. The company is hopeful that Schulman's extensive experience in the digital payments industry will help drive innovation and growth at Verizon as it continues to expand its offerings and compete in the highly competitive telecom market.
