"Verizon just announced that its current CEO, Hans Vestberg, is stepping down-and the wireless carrier is pulling another seasoned leader out of retirement to take its helm. In a press release published on October 6, Verizon announced that former PayPal CEO Dan Schulman will be leading the company, effective immediately. In the meantime, Vestberg (who has held the title since 2018) will stay on as a special adviser at the company until October 4, 2026."
"Schulman has served on Verizon's board of directors since 2018, and was elected lead independent director in December 2024. "Dan is a seasoned and decisive leader with a unique set of experiences, and a proven record of transformative leadership and operational excellence," Mark Bertolini, Verizon's board chair, said in the press release. "He is the right leader to chart Verizon's next phase of increased customer focus and financial growth.""
Dan Schulman becomes Verizon CEO effective immediately, while Hans Vestberg steps down and will remain as a special adviser through October 4, 2026. Schulman has served on Verizon's board since 2018 and was elected lead independent director in December 2024. Schulman led PayPal as president and CEO from 2014 to 2023, tripling revenue from $8 billion to $30 billion and advocating for corporate responsibility. Verizon raised its annual profit forecast this July from $0.15 billion to $2 billion after favorable U.S. tax reform. Verizon’s strategic focus is expanding internet services to better compete with AT&T and T-Mobile.
Read at Fast Company
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