Verizon Names Former PayPal Boss Dan Schulman as CEO

Verizon said that former PayPal chief executive Dan Schulman will replace Hans Vestberg as CEO, effective immediately, Akash Sriram reported for Reuters.

Shares of the telecom operator rose 1.3% in premarket trading following the announcement. (Photo: Kris Klug, PopTech)

Vestberg will remain with the company as a special adviser through October 4, 2026, Verizon said. Shares of the telecom operator rose 1.3% in premarket trading following the announcement.

On September 5, Verizon’s board approved a quarterly dividend increase to 69 cents per share, up 1.25 cents from the previous quarter.

The dividend will be paid on November 3, 2025, to shareholders of record as of October 10, 2025 — marking the company’s 19th consecutive annual dividend increase.