Daniel Schulman becomes Verizon CEO, replacing Hans Vestberg

New Delhi: Verizon Communications has appointed Daniel Schulman as its next chief executive officer, replacing Hans Vestberg, who has held the CEO position since 2018 and the chairmanship since 2019. 

Schulman, previously the lead independent director at Verizon, brings a wealth of experience from both technology and telecommunications sectors.

Before joining Verizon, Schulman led PayPal Holdings, transforming the company into a global payments platform with revenue growth from $8 billion to $30 billion, alongside a five-fold increase in earnings per share and a significant expansion of its customer base worldwide.

His career also includes senior leadership roles at Priceline, where he grew annual revenues from $20 million to nearly $1 billion over two years, Virgin Mobile USA, where he established a successful pre-paid cellphone business, American Express, where he expanded global mobile and online payment services, and AT&T.

In addition to his operational experience, Schulman has a strong background in cybersecurity and risk management. He served nearly 20 years on the board of NortonLifeLock, formerly Symantec, including six years as independent chairman. 

He also holds board positions at Lazard, Inc. and Cisco Systems and serves as Board Chair of JUST Capital and Vice Chairman and Managing Partner of Valor Capital Group.

Schulman holds a Bachelor’s degree from Middlebury College and an MBA in Finance from New York University’s Stern School of Business. His appointment is expected to guide Verizon through its next stage of strategic growth, focusing on mobility, broadband, and technological innovation.