In a bold leadership shake-up, Verizon has named Dan Schulman—the former CEO of PayPal—as its new chief executive, signaling a dramatic pivot as the telecom behemoth grapples with slowing subscriber growth, intensifying competition from T-Mobile and AT&T, and mounting pressure to redefine its digital future .
Table of Contents
- Why Verizon Chose Dan Schulman
- Schulman’s Track Record at PayPal
- Verizon’s Challenges by the Numbers
- What Schulman Could Bring to Verizon
- Industry Reaction and Stock Impact
- Sources
Why Verizon Chose Dan Schulman
After months of speculation, Verizon confirmed on Monday, October 6, 2025, that Dan Schulman would succeed outgoing CEO Hans Vestberg. The move marks a strategic bet on digital transformation over traditional telecom expertise.
“Dan brings a rare blend of customer-centric innovation, fintech fluency, and large-scale operational leadership,” said Verizon’s board chair in a statement. “We need fresh eyes—and fresh energy.”
Schulman, 67, stepped down from PayPal in 2023 but remained active as a board member at companies like Nike and Square. His appointment ends a two-year search for a leader who could bridge legacy infrastructure and next-gen services like 5G monetization, edge computing, and bundled digital experiences.
Dan Schulman’s Track Record at PayPal
During his nine-year tenure as PayPal CEO (2014–2023), Schulman oversaw:
- A 400% increase in market capitalization
- The spin-off from eBay and transformation into an independent fintech powerhouse
- Launch of Venmo’s monetization strategy and expansion into crypto and BNPL (Buy Now, Pay Later)
- Strategic partnerships with Apple, Amazon, and Shopify
He also earned praise for championing financial inclusion—introducing low-fee accounts for unbanked Americans and raising employee wages during the pandemic.
Verizon’s Challenges by the Numbers
Verizon’s need for reinvention is urgent. Consider these stats:
| Metric | 2024 | Trend |
|---|---|---|
| Postpaid Phone Net Adds | -120,000 | ↓ 3rd straight quarter of losses |
| 5G Subscribers | 42 million | Trailing T-Mobile’s 68M |
| Stock Price (12-month) | $38 | ↓ 18% underperformance vs. S&P 500 |
| Churn Rate | 1.32% | ↑ Highest in 5 years |
Analysts say Verizon’s “premium network” pitch is no longer enough in a saturated market where price, bundling, and digital perks drive decisions.
What Dan Schulman Could Bring to Verizon
Insiders suggest Schulman’s first moves may include:
- Reimagining Verizon’s loyalty program with fintech-style rewards
- Exploring embedded finance—e.g., billing insurance, microloans, or payment services through My Verizon app
- Accelerating partnerships with streaming and gaming platforms to create “connectivity + content” bundles
- Streamlining operations to free up capital for AI-driven customer service and network optimization
“He doesn’t just run companies—he redefines them,” said a former PayPal executive who worked under Schulman.
Industry Reaction and Stock Impact
Verizon shares rose 4.2% on the news—their biggest single-day gain in 14 months—reflecting investor optimism about a non-traditional CEO at the helm.
“This isn’t just a CEO change. It’s a culture reset,” said telecom analyst Maria Chen at Bernstein Research. “Schulman thinks like a consumer tech CEO, not a telco engineer.”
Still, skeptics warn that telecom’s regulatory complexity and capital intensity pose very different challenges than fintech’s agile, software-driven model.
