Verizon Communications Inc. named former PayPal head Dan Schulman, who was serving as Independent Lead Director as the Chief Executive Officer of the company with immediate effect.
“The Board is thrilled to have Dan as Verizon’s next CEO, and embark on a new chapter of growth and sector leadership,” said Verizon Board Chair Mark Bertolini in a statement issued on Monday, October 6.
“Dan is a seasoned and decisive leader with a unique set of experiences and a proven record of transformative leadership and operational excellence. He is the right leader to chart Verizon's next phase of increased customer focus and financial growth," Bertolini added.
Who is Dan Schulman?
Dan Schulman has been on Verizon's board of directors since 2018. With a career spanning over four decades, Dan has held leadership roles at PayPal, American Express, Sprint Nextel Corporation, Priceline Group, and AT&T.
He is a life member of the Council on Foreign Relations and co-chairs the World Economic Forum’s Steering Committee that aims to promote global financial inclusion.
Dan Schulman: Education
Dan holds a BA from Middlebury College and an MBA from New York University’s Leonard N. Stern School of Business. Additionally, he is passionate about practising mixed martial arts, according to Dan's LinkedIn profile.
Dan Schulman: Awards and achievements
Dan has been honoured as one of Fortune’s top 20 Businesspersons of the Year, listed among Glassdoor’s Top 50 CEOs, and awarded a Ripple of Hope laureate by the Robert F Kennedy Human Rights organisation.
In 2021, Dan secured third spot in Fortune's list of the World's Greatest Leaders, an award that recognised individuals for their leadership during the COVID-19 pandemic. He has also received several awards, including the Frederick Douglass Award from The New York Urban League, the Voices of Solidarity Award from Vital Voices, Endeavor Global’s High-Impact Leader of the Year, and a Brennan Legacy Award, according to his LinkedIn profile.
Dan Schulman on being appointed as the CEO
Speaking about his current role, Schulman said,“I believe in Verizon and its future, and I am honoured to be chosen to serve as CEO. Verizon is at a critical juncture. We have a clear opportunity to redefine our trajectory by growing our market share across all segments of the market while delivering meaningful growth in our key financial metrics. We are going to maximise our value propositions, reduce our cost to serve, and optimise our capital allocation to delight our customers and deliver sustainable long-term growth for our shareholders."