<div id="readability-page-1"><figure> <img src="https://imageproxy.pbkrs.com/https://platform.theverge.com/wp-content/uploads/sites/2/2025/10/gettyimages-1258681738.jpg/query-Y3JvcD0wLDAsMTAwLDEwMCZxdWFsaXR5PTkwJnN0cmlwPWFsbA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="4000" height="2667" original-src="https://imageproxy.pbkrs.com/https://platform.theverge.com/wp-content/uploads/sites/2/2025/10/gettyimages-1258681738.jpg/query-Y3JvcD0wLDAsMTAwLDEwMCZxdWFsaXR5PTkwJnN0cmlwPWFsbA"/> <figcaption> PayPal appointed Dan Schulman as CEO in 2014, and he stepped down in 2023. | Photo by Nathan Laine/Bloomberg via Getty Images </figcaption> </figure> Verizon has picked former PayPal head Dan Schulman to serve as its new CEO as the company enters its “next phase” of growth, Verizon board chair Mark Bertolini says in the Monday announcement. Starting today, Schulman will replace outgoing CEO Hans Vestberg, who will now serve as a special advisor through October 4th, 2026. Vestberg became the CEO of Verizon in 2018, where he oversaw the carrier’s 5G launch and its expansion. Last year, Vestberg admitted that people are now holding onto their phones for “way over 36 months,” marking an end to the “exciting times” of yearly phone upgrades. He also led the company’s $20 billion acquisition of fiber internet provider Frontier, which the Federal Communications Commission approved after Verizon committed to “ending” practices related to diversity, equity, and inclusion (DEI). After working in executive positions across AT&amp;T, Priceline, Virgin Mobile, and American Express, Schulman was appointed CEO of PayPal in 2014 following the company’s breakup with eBay. Schulman stepped down in 2023 and was succeeded by Intuit’s former chief product officer, Alex Chriss. Verizon’s CEO swap comes just weeks after T-Mobile CEO Mike Sievert stepped down, with the carrier’s chief operating officer, Srini Gopalan, taking his place. “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,” Schulman says in the press release. “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.”</div>

Verizon has appointed Dan Schulman, former CEO of PayPal, as its new CEO, succeeding Hans Vestberg, who will serve as a special advisor until October 2026. This leadership change marks the beginning of a new growth phase for Verizon following its 5G rollout. Schulman aims to redefine Verizon's trajectory by increasing market share and improving financial metrics, emphasizing collaboration with employees, regulators, and partners.

Verizon appoints a new CEO for the ‘next phase’ after its 5G rollout