Who is Dan Schulman? Verizon’s new CEO and former PayPal chief

Verizon has appointed Dan Schulman as its new chief executive officer, replacing Hans Vestberg in a major leadership change announced on October 6, 2025. The move comes as the U.S. wireless industry faces slowing subscriber growth and intense competition. Many want to know: who is Dan Schulman, the man now tasked with reshaping Verizon’s future?

Schulman, 67, is best known for transforming PayPal into a global digital payments powerhouse. He served as its CEO from 2015 until stepping down in 2023. Verizon confirmed that Vestberg will remain with the company as a special adviser until October 2026 to ensure a smooth transition.

Dan Schulman’s career and leadership profile

Schulman brings decades of experience in technology, telecom, and finance. Before PayPal, he was the founding CEO of Virgin Mobile USA, later leading Sprint’s prepaid division after the acquisition. He also ran enterprise growth at American Express, where he focused on digital payments and new markets. His early career included senior roles at AT&T.

Schulman joined Verizon’s board in 2018 and became lead independent director in 2024, giving him a deep understanding of the company’s strategy and challenges. His appointment as CEO follows Verizon’s continued efforts to grow its 5G and home internet businesses while facing pressure from rivals AT&T and T-Mobile.

Hans Vestberg, CEO since 2018, oversaw Verizon’s 5G rollout and attempted to diversify through media and enterprise services, though the company later exited most of its media assets. Despite these moves, Verizon’s stock performance has lagged competitors in recent years.

What Schulman’s leadership could mean for Verizon

Schulman is expected to bring a sharper focus on digital-first customer experiences and competitive pricing models. His PayPal background suggests a push toward seamless billing, rewards, and easier plan management. Analysts believe he may emphasize simplifying services for families and businesses while leveraging Verizon’s network strength.

Verizon is also working to expand its fiber and fixed wireless offerings to reach more homes and businesses. The company’s plan to buy Frontier’s fiber network remains a major strategic move, and Schulman will play a key role in completing and integrating that deal.

Investors and customers alike will watch how he handles competition in an increasingly saturated market. Subscriber retention, network monetization, and innovative service bundles will likely be at the center of his first year as CEO.

Dan Schulman’s track record shows he can navigate challenging markets and lead digital transformation. As Verizon’s new CEO, his mission is to restore growth and keep the company competitive in a fast-changing telecom landscape.

FYI (keeping you in the loop)-

Q1: Who is Dan Schulman?

He is a veteran tech and telecom leader, best known as former CEO of PayPal and founding CEO of Virgin Mobile USA.

Q2: When will Hans Vestberg step down?

Hans Vestberg stepped down as CEO on October 6, 2025, and will stay on as an adviser until October 2026.

Q3: What will Dan Schulman focus on first?

He is expected to focus on improving customer growth, digital service experiences, and expanding Verizon’s fiber and 5G offerings.

Q4: How old is Dan Schulman?

Dan Schulman is 67 years old, born on January 19, 1958.

Q5: What companies has he worked for before Verizon?

He has worked at PayPal, Virgin Mobile USA, Sprint, American Express, and AT&T.