Verizon Announces CEO Transition

Verizon's Board of Directors has appointed Independent Lead Director and former Chief Executive Officer of PayPal Holdings Dan Schulman as Chief Executive Officer, effective immediately. Mark Bertolini has been elected Chairman of the Verizon Board of Directors. 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. Vestberg will also remain on the Board of Directors until the 2026 Annual Meeting.  Schulman led PayPal’s transformation to a global payments platform, tripling revenue from $8B to $30B, growing EPS five-fold and adding hundreds of millions of new customers to the PayPal platform around the globe. During his career, Schulman has held senior leadership roles at AT&T, Priceline, Virgin Mobile, and American Express. Schulman has served on the Verizon Board of directors since 2018 and was elected Lead Independent Director in December 2024.