Verizon Replaces CEO Vestberg With Former PayPal Chief Schulman

Verizon Communications has announced the replacement of its CEO, Hans Vestberg, with former PayPal chief executive, Dan Schulman. This leadership change comes as a surprise, as Vestberg had only been in the role since 2018. The move is fueling speculation about the reasons behind the sudden transition. Schulman, who will also serve as the company's new board chairman, brings extensive experience in the technology and payments sectors, having previously held senior positions at companies like PayPal and AT&T. The announcement comes at a critical time for Verizon, as the company navigates the competitive landscape of the telecommunications industry and the ongoing shift towards 5G technology. The change in leadership is expected to provide a fresh perspective and potentially new strategic direction for the company. The company's board has expressed confidence in Schulman's ability to lead Verizon through this transition and position the company for future growth and success.