Dan Schulman, CEO, Paypal speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020.
Adam Galacia | CNBC
Verizon announced on Monday that the board of directors has appointed former PayPal CEO Dan Schulman as the company’s new CEO.
Schulman replaces Hans Vestberg, who led the company since 2018.
Shares of the company rose slightly following the announcement.
Verizon said Vestberg will remain on the board of directors until the 2026 annual meeting and will serve as a special advisor through Oct. 4, 2026, ensuring a smooth transition and closing the deal to acquire Frontier Communications.
Verizon on Monday also announced that Mark Bertolini would be chairman of the company’s board of directors.
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