Verizon Communications (NYSE:VZ) announced on Monday that its board of directors has appointed Dan Schulman, Independent Lead Director and former chief executive officer (CEO) of PayPal, as CEO, effective immediately.
Schulman has served on the Verizon Board of directors since 2018 and was elected Lead Independent Director in December 2024. During his career, Schulman has held senior leadership roles at AT&T, Priceline, Virgin Mobile and American Express.
The company also said that Mark Bertolini has been elected chairman of the Verizon Board of Directors.
“Hans Vestberg will serve as Special Advisor through October 4, 2026, during which time he will be focused on ensuring a smooth transition including the integration with Frontier Communications, which is expected to close in the first quarter of 2026,” said the company, adding that “Vestberg will also remain on the Board of Directors until the 2026 Annual Meeting.”
Additionally, Verizon reiterated its previously provided financial guidance for full-year 2025.
Verizon will now report its third quarter 2025 earnings on October 29, 2025.
