Verizon Appoints New CEO as Company Faces Major Acquisition

NEW YORK, NY — Verizon Communications made headlines on October 6, 2025, by appointing Dan Schulman as the new CEO, immediately replacing Hans Vestberg. Vestberg, who has led the company since 2018, will remain on the board as a special advisor until October 2026. This leadership change comes as Verizon navigates significant acquisitions and stiff competition in the telecom sector.

Schulman is recognized for his previous role as CEO of PayPal, where he tripled revenue and expanded digital payment services. In a news release, Verizon highlighted his successful track record as a reason for the shift in leadership. Investors responded positively to the announcement, with shares rising approximately 1.3% in pre-market trading.

Part of Verizon’s growth strategy includes the acquisition of Frontier Communications for $20 billion, which combines Frontier’s 2.2 million fiber subscribers with Verizon’s existing 7.4 million. The U.S. Federal Communications Commission (FCC) approved the merger in May 2025 after Verizon agreed to remove diversity, equity, and inclusion policies. The acquisition is expected to close in early 2026, enhancing Verizon’s fiber broadband capabilities.

Verizon’s Q2 2025 results surpassed expectations, revealing revenues of $34.5 billion, a 5.2% annual increase, with wireless service revenue up 2.2%. Net income reached $5.1 billion, marking a 3.4% year-on-year growth. Following these results, Verizon raised its free cash flow guidance to between $19.5 billion and $20.5 billion.

The company also increased its dividend by 1.8% to $0.69 per share, marking the 19th consecutive rise. This consistency underscores the management’s confidence in maintaining solid cash flow generation despite high debt levels from its C-band spectrum purchases.

Analysts have mixed views on Verizon’s financial future. Although the company shows a strong financial performance, concerns over high leverage and capital spending for 5G and fiber may limit flexibility. As Verizon seeks to reclaim lost broadband share amid competition from companies like AT&T and cable operators, their focus will remain on integrating Frontier’s network efficiently and continuing innovation in 5G and fiber technology.

The appointment of Schulman signals a new chapter for Verizon, as the company faces both opportunities and challenges in a rapidly evolving telecommunications landscape.