Dan Schulman: Difference between revisions

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| education    = [[Middlebury College]] (BA)<br />[[New York University]] (MBA)
| education    = [[Middlebury College]] (BA)<br />[[New York University]] (MBA)
| children    = 2
| children    = 2
| awards      = ''Fortune'' Businessperson of the Year (2017), Financial Health Visionary Award
| awards      = ''Fortune'' Businessperson of the Year (2017)<br />Financial Health Visionary Award
}}
}}


'''Daniel H. Schulman''' (born January 19, 1958) is an American business executive who serves as the chief executive officer of [[Verizon Communications]]. He is best known for his tenure as president and CEO of [[PayPal|PayPal Holdings, Inc.]], a position he held from 2014 until 2023, during which he oversaw the company's separation from [[eBay]] and its growth into one of the world's largest digital payments platforms. Before PayPal, Schulman held senior leadership roles at [[American Express]], [[Sprint Corporation|Sprint]], and [[Virgin Mobile USA]], the latter of which he co-founded and led as its first CEO. A native of [[Newark, New Jersey]], Schulman built his career at the intersection of telecommunications, financial technology, and digital commerce. In October 2025, the Verizon Board of Directors appointed him as CEO, succeeding [[Hans Vestberg]], tasking him with restructuring and revitalizing the telecommunications giant.<ref>{{cite web |title=Verizon Announces CEO Transition |url=https://www.verizon.com/about/news/verizon-announces-ceo-transition |publisher=Verizon |date=October 6, 2025 |access-date=2026-02-24}}</ref> Throughout his career, Schulman has been recognized for his focus on expanding access to financial services and mobile technology to underserved populations.
'''Daniel H. Schulman''' (born January 19, 1958) is an American business executive who serves as the chief executive officer of [[Verizon Communications]]. He is best known for his tenure as president and CEO of [[PayPal|PayPal Holdings, Inc.]], a position he held from 2014 until 2023, during which the digital payments company grew into one of the largest financial technology platforms in the world. Before PayPal, Schulman held senior positions at [[American Express]], where he oversaw the company's expansion into alternative mobile and online payment services, and at [[Sprint Corporation|Sprint]], where he led the prepaid wireless division. He was also the founding CEO of [[Virgin Mobile USA]], which became one of the fastest-growing companies in the wireless industry during his leadership. Born in [[Newark, New Jersey]], Schulman built a career that has spanned the telecommunications and financial services industries over more than three decades. In October 2025, the Verizon Board of Directors appointed him as CEO, succeeding [[Hans Vestberg]], marking a new chapter in both his career and the trajectory of one of America's largest telecommunications companies.<ref>{{cite web |title=Verizon Announces CEO Transition |url=https://www.verizon.com/about/news/verizon-announces-ceo-transition |publisher=Verizon |date=October 6, 2025 |access-date=2026-02-24}}</ref>


== Early Life ==
== Early Life ==


Daniel H. Schulman was born on January 19, 1958, in [[Newark, New Jersey]].<ref name="nytboss">{{cite news |last=Eisenberg |first=Daniel |date=2008-02-24 |title=The Boss: Lessons That Go Beyond the Mat |url=https://www.nytimes.com/2008/02/24/jobs/24boss.html |work=The New York Times |access-date=2026-02-24}}</ref> He grew up in the Newark area during a period of significant social and economic change in the city. In a 2008 interview with ''The New York Times'', Schulman discussed the formative experiences of his youth, including the influence of martial arts on his personal development and leadership philosophy. He became deeply involved in martial arts practice, an interest that he would carry into his adult life and that he credited with teaching him discipline, focus, and resilience — qualities he later applied in the business world.<ref name="nytboss" />
Daniel H. Schulman was born on January 19, 1958, in [[Newark, New Jersey]]. In a 2008 interview with ''[[The New York Times]]'', Schulman discussed aspects of his upbringing and the values that shaped his approach to leadership. He grew up in a family that placed importance on education and social consciousness. His background in Newark, a city that experienced significant economic and social challenges during his formative years, influenced his later interest in financial inclusion and expanding access to services for underserved populations.<ref name="nytboss">{{cite news |last= |first= |date=2008-02-24 |title=The Boss |url=https://www.nytimes.com/2008/02/24/jobs/24boss.html |work=The New York Times |access-date=2026-02-24}}</ref>


Schulman's upbringing in New Jersey left a lasting impression on him, and he maintained connections to the state throughout his career. He would later serve on the board of [[Rutgers University]], the state university of New Jersey, reflecting his ongoing ties to the region.<ref>{{cite web |title=Daniel H. Schulman, Virgin Mobile USA CEO, to be Honored at Rutgers Business School Annual Awards Dinner |url=https://web.archive.org/web/20100107023757/http://news.rutgers.edu/medrel/news-releases/2009/06/daniel-h-schulman-vi-20090615 |publisher=Rutgers University |date=June 15, 2009 |access-date=2026-02-24}}</ref>
Schulman has spoken publicly about the influence of his family's values on his career decisions. In a 2017 interview with ''[[Business Insider]]'', he discussed how his early experiences shaped his leadership philosophy, particularly his focus on purpose-driven business and his belief that companies should serve broader social goals beyond generating profit.<ref name="bisuccess">{{cite news |last= |first= |date=2017-08 |title=Dan Schulman Interview — PayPal CEO Success — How I Did It Podcast |url=https://www.businessinsider.com/dan-schulman-interview-paypal-ceo-success-how-i-did-it-podcast-2017-8 |work=Business Insider |access-date=2026-02-24}}</ref>
 
In a 2018 interview with ''The New York Times'' for its "Corner Office" series, Schulman reflected on how his childhood and early career experiences instilled in him a commitment to democratizing financial services and ensuring that technology serves people across all income levels.<ref name="nytcorner">{{cite news |last= |first= |date=2018-07-27 |title=Dan Schulman, PayPal — Corner Office |url=https://www.nytimes.com/2018/07/27/business/dan-schulman-paypal-corner-office.html |work=The New York Times |access-date=2026-02-24}}</ref>


== Education ==
== Education ==


Schulman attended [[Middlebury College]], a private liberal arts college in [[Middlebury, Vermont]], where he earned a [[Bachelor of Arts]] degree. He subsequently pursued graduate studies in business, earning a [[Master of Business Administration]] (MBA) from [[New York University]]'s Stern School of Business. His education combined a liberal arts foundation with advanced training in business and management, providing the academic grounding for his subsequent career across multiple industries.
Schulman attended [[Middlebury College]], a private liberal arts college in [[Middlebury, Vermont]], where he earned a [[Bachelor of Arts]] degree. He subsequently pursued graduate studies at [[New York University]], where he earned a [[Master of Business Administration]] (MBA). These institutions provided Schulman with a foundation in both the liberal arts and business management that would inform his subsequent career across multiple industries.<ref name="nytboss" />
 
In 2018, Schulman was invited to serve as the speaker for [[Rutgers University]]'s 252nd anniversary commencement ceremony, reflecting his connections to higher education in New Jersey, where he was born and raised.<ref name="rutgerscommencement">{{cite news |last= |first= |date=2018-04-10 |title=Dan Schulman, PayPal President and CEO, Named Rutgers University's 252nd Anniversary Commencement Speaker |url=https://www.mycentraljersey.com/story/news/education/college/rutgers/2018/04/10/dan-schulman-paypal-president-and-ceo-named-rutgers-universitys-252nd-anniversary-commencement-speak/502739002/ |work=MyCentralJersey.com |access-date=2026-02-24}}</ref> Schulman has also served on the Board of Governors of [[Rutgers University]], further demonstrating his engagement with educational institutions.<ref name="rutgersboard">{{cite web |title=Daniel H. Schulman, Virgin Mobile USA, Inc., Named Vice Chairman of Rutgers Board of Governors |url=https://web.archive.org/web/20100107023757/http://news.rutgers.edu/medrel/news-releases/2009/06/daniel-h-schulman-vi-20090615 |publisher=Rutgers University |date=2009-06-15 |access-date=2026-02-24}}</ref>


== Career ==
== Career ==
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=== Early Career and Sprint ===
=== Early Career and Sprint ===


Before rising to national prominence in the technology and financial services industries, Schulman worked at [[AT&T]] early in his career. He later joined [[Sprint Corporation]], where he served as president of Sprint's prepaid group. In this role, Schulman gained significant experience in the telecommunications sector, particularly in the growing market for prepaid wireless services, which served customers who did not qualify for or did not want traditional postpaid contracts. His work at Sprint positioned him at the forefront of efforts to expand wireless access to a broader consumer base, a theme that would recur throughout his career.
Before rising to prominence in the technology and financial sectors, Schulman held positions in the telecommunications industry. He served as president of Sprint's prepaid wireless group, where he oversaw the company's efforts to expand prepaid mobile phone services. The prepaid wireless market was a growing segment during this period, as it allowed consumers without traditional credit or long-term contracts to access mobile phone services.<ref>{{cite news |last= |first= |date=2005-08-11 |title=Prepaid Cellphone Plans |url=https://www.nytimes.com/2005/08/11/technology/circuits/prepaid-cellphone-plans.html |work=The New York Times |access-date=2026-02-24}}</ref>


=== Virgin Mobile USA ===
=== Virgin Mobile USA ===


Schulman served as the founding CEO of [[Virgin Mobile USA]], a [[mobile virtual network operator]] (MVNO) that launched in the United States in partnership with [[Richard Branson]]'s [[Virgin Group]]. The company offered prepaid wireless service targeted primarily at younger consumers and those underserved by traditional wireless carriers.<ref>{{cite news |last=Marriott |first=Michel |date=2005-08-11 |title=Prepaid Cellphone Plans |url=https://www.nytimes.com/2005/08/11/technology/circuits/prepaid-cellphone-plans.html |work=The New York Times |access-date=2026-02-24}}</ref>
Schulman served as the founding CEO of [[Virgin Mobile USA]], a [[mobile virtual network operator]] (MVNO) launched in partnership with [[Richard Branson]]'s [[Virgin Group]]. Under his leadership, Virgin Mobile USA established itself as a prominent player in the prepaid wireless market, targeting younger consumers and those who preferred the flexibility of prepaid plans over traditional postpaid contracts. The company's initial public offering took place on the [[New York Stock Exchange]].<ref>{{cite web |title=Virgin Mobile USA IPO |url=https://www.nyse.com/pdfs/VIRGINmobile.pdf |publisher=New York Stock Exchange |date= |access-date=2026-02-24}}</ref>
 
Under Schulman's leadership, Virgin Mobile USA grew into a significant player in the U.S. prepaid wireless market. The company differentiated itself through youth-oriented branding, innovative pricing structures, and partnerships with content providers. Virgin Mobile USA went public, listing on the [[New York Stock Exchange]].<ref>{{cite web |title=Virgin Mobile USA IPO |url=https://www.nyse.com/pdfs/VIRGINmobile.pdf |publisher=New York Stock Exchange |access-date=2026-02-24}}</ref>


Schulman's success at Virgin Mobile USA earned him recognition within the wireless industry. ''FierceWireless'' named him one of the "25 Most Powerful People in Wireless," citing his role in building the Virgin Mobile brand in the United States.<ref>{{cite web |title=22. Dan Schulman, CEO, Virgin Mobile USA – 25 Most Powerful People in Wireless |url=http://www.fiercewireless.com/special-reports/22-dan-schulman-ceo-virgin-mobile-usa-25-most-powerful-people-wireless |publisher=FierceWireless |access-date=2026-02-24}}</ref> His tenure at Virgin Mobile USA demonstrated his ability to identify underserved market segments and build businesses around them — a capability that would later inform his leadership at PayPal.
During his time at Virgin Mobile USA, Schulman was recognized by ''FierceWireless'' as one of the "25 Most Powerful People in Wireless," reflecting the impact of his leadership on the broader telecommunications landscape.<ref>{{cite web |title=22 — Dan Schulman, CEO, Virgin Mobile USA — 25 Most Powerful People in Wireless |url=http://www.fiercewireless.com/special-reports/22-dan-schulman-ceo-virgin-mobile-usa-25-most-powerful-people-wireless |publisher=FierceWireless |date= |access-date=2026-02-24}}</ref> His experience at Virgin Mobile USA was formative in establishing his reputation as an executive who could build consumer-facing brands aimed at underserved market segments, a theme that would recur throughout his career.
 
In 2009, Rutgers Business School honored Schulman at its annual awards dinner, recognizing his accomplishments as a business leader with roots in New Jersey.<ref>{{cite web |title=Daniel H. Schulman, Virgin Mobile USA CEO, to be Honored at Rutgers Business School Annual Awards Dinner |url=https://web.archive.org/web/20100107023757/http://news.rutgers.edu/medrel/news-releases/2009/06/daniel-h-schulman-vi-20090615 |publisher=Rutgers University |date=June 15, 2009 |access-date=2026-02-24}}</ref>


=== American Express ===
=== American Express ===


In 2010, Schulman joined [[American Express]] as group president of enterprise growth.<ref>{{cite web |title=American Express Appoints Dan Schulman Group President, Enterprise Growth |url=http://about.americanexpress.com/news/pr/2010/appts.aspx |publisher=American Express |date=2010 |access-date=2026-02-24}}</ref> In this role, he was responsible for the company's global strategy to expand into alternative mobile and online payment services, forge new partnerships, and develop revenue streams beyond American Express's traditional card and travel businesses.<ref>{{cite web |title=Daniel H. Schulman – Executive Profile |url=https://www.bloomberg.com/research/stocks/people/person.asp?personId=174206&ticker=AXP |publisher=Bloomberg |access-date=2026-02-24}}</ref>
In 2010, Schulman joined [[American Express]] as group president of enterprise growth. In this role, he was responsible for the company's global strategy to expand alternative mobile and online payment services, form new partnerships, and build revenue streams beyond American Express's traditional card and travel businesses.<ref name="amexappt">{{cite web |title=American Express Appointments |url=http://about.americanexpress.com/news/pr/2010/appts.aspx |publisher=American Express |date=2010 |access-date=2026-02-24}}</ref> His appointment reflected American Express's recognition that the payments industry was undergoing a fundamental transformation driven by mobile technology and digital commerce.


Schulman's appointment to American Express reflected the company's recognition that the payments industry was undergoing a fundamental transformation driven by mobile technology and digital commerce. At American Express, Schulman worked to position the company for this shift, exploring partnerships and new product development that would allow American Express to compete in the digital payments space alongside emerging fintech companies. His experience at the intersection of telecommunications and consumer services made him a natural fit for leading American Express's efforts in mobile payments and digital innovation.
At American Express, Schulman oversaw initiatives to position the company in emerging digital payment markets. His work involved developing strategies to compete with new fintech entrants and technology companies that were beginning to challenge traditional financial services firms in the payments space. This experience at the intersection of traditional financial services and emerging digital technology positioned Schulman as a leading candidate for roles in the rapidly growing fintech sector.<ref>{{cite web |title=Dan Schulman — Bloomberg |url=https://www.bloomberg.com/research/stocks/people/person.asp?personId=174206&ticker=AXP |publisher=Bloomberg |date= |access-date=2026-02-24}}</ref>


=== PayPal ===
=== PayPal ===


==== Appointment and eBay Separation ====
==== Appointment and Early Tenure ====


In 2014, Schulman was appointed president and CEO of PayPal, joining the company ahead of its planned separation from [[eBay]].<ref name="yahoo">{{cite news |title=Dan Schulman, the former CEO of PayPal, Takes the Helm at Verizon |url=https://finance.yahoo.com/news/dan-schulman-former-ceo-paypal-120116419.html |work=Yahoo Finance |date=October 22, 2025 |access-date=2026-02-24}}</ref> The separation was completed in July 2015, when PayPal began trading as an independent publicly listed company on the [[Nasdaq]] stock exchange. As the leader of the newly independent PayPal, Schulman was tasked with charting a course for the company as a standalone entity in the increasingly competitive digital payments industry.
Schulman was appointed president and CEO of PayPal in 2014, ahead of the company's separation from [[eBay]] as an independent publicly traded company. PayPal's spin-off from eBay was completed in July 2015, and Schulman led the company through this transition. His appointment was seen as a signal that PayPal intended to pursue an aggressive growth strategy focused on mobile payments, digital commerce, and financial inclusion.<ref name="bisuccess" />


==== Growth and Strategy ====
Under Schulman's leadership, PayPal expanded its platform significantly, growing its user base, transaction volume, and suite of financial products. He articulated a vision for PayPal as a company that would democratize financial services, making digital payments and financial tools accessible to people and businesses across all economic strata. In his 2018 interview with ''The New York Times'' "Corner Office" column, Schulman discussed his philosophy of leading with purpose and his belief that companies that prioritize social impact alongside profitability could achieve sustainable long-term growth.<ref name="nytcorner" />


During his tenure as CEO, Schulman oversaw significant growth at PayPal, expanding the company's user base, product offerings, and global reach. He emphasized the concept of "democratizing" financial services, arguing that technology could be used to provide affordable financial tools to people who had been excluded from the traditional banking system. Under his leadership, PayPal expanded its suite of products and services, including the growth of [[Venmo]], PayPal's peer-to-peer payment platform popular among younger consumers.
==== Corporate Social Responsibility and Public Stances ====


In a 2017 interview with ''Business Insider'', Schulman discussed his approach to leadership and the factors he attributed to his professional success, including the importance of purpose-driven leadership and his belief that companies could serve both shareholders and society simultaneously.<ref>{{cite news |title=Dan Schulman Interview – PayPal CEO Success |url=https://www.businessinsider.com/dan-schulman-interview-paypal-ceo-success-how-i-did-it-podcast-2017-8 |work=Business Insider |date=August 2017 |access-date=2026-02-24}}</ref>
Schulman drew attention for taking public stances on social issues during his tenure at PayPal. In April 2016, PayPal announced the cancellation of a planned $3.6 million operations center in [[Charlotte, North Carolina]], which would have created approximately 400 jobs. The decision was made in response to [[North Carolina House Bill 2]], a state law that restricted transgender individuals' use of public bathrooms. Schulman stated that the law contradicted PayPal's values of inclusion and equality.<ref name="fortunenc">{{cite news |last= |first= |date=2016-04-05 |title=PayPal Withdraws Plans in North Carolina |url=http://fortune.com/2016/04/05/paypal-withdraws-plans-in-north-carolina/ |work=Fortune |access-date=2026-02-24}}</ref><ref name="wsjnc">{{cite news |last= |first= |date=2016-04-05 |title=PayPal Cancels Plans for Operations Center, 400 Jobs, Over North Carolina's Transgender Law |url=https://www.wsj.com/articles/paypal-cancels-plans-for-operations-center-400-jobs-over-north-carolinas-transgender-law-1459872277 |work=The Wall Street Journal |access-date=2026-02-24}}</ref>


In a 2018 interview published in ''The New York Times'' "Corner Office" column, Schulman elaborated on his management philosophy and the challenges of leading a rapidly growing technology company in the financial services sector.<ref>{{cite news |last= |first= |date=2018-07-27 |title=Dan Schulman, PayPal, Corner Office |url=https://www.nytimes.com/2018/07/27/business/dan-schulman-paypal-corner-office.html |work=The New York Times |access-date=2026-02-24}}</ref>
The decision was part of a broader movement of corporate opposition to the North Carolina law and positioned PayPal as a company willing to make business decisions based on its stated values. The action drew both praise and criticism but established Schulman as a CEO who was willing to engage publicly on social and political matters.


==== North Carolina Controversy ====
==== Financial Inclusion Initiatives ====


In April 2016, PayPal under Schulman's leadership made national headlines when the company cancelled plans to open a new global operations center in [[Charlotte, North Carolina]], in response to the state's passage of [[Public Facilities Privacy & Security Act|House Bill 2 (HB2)]], commonly known as the "bathroom bill." The law restricted transgender individuals from using public restrooms that corresponded with their gender identity. PayPal's decision to withdraw from North Carolina, which would have created approximately 400 jobs, was among the most prominent corporate responses to the legislation.<ref>{{cite news |title=PayPal Withdraws Plans in North Carolina |url=http://fortune.com/2016/04/05/paypal-withdraws-plans-in-north-carolina/ |work=Fortune |date=April 5, 2016 |access-date=2026-02-24}}</ref><ref>{{cite news |title=PayPal Cancels Plans for Operations Center, 400 Jobs Over North Carolina's Transgender Law |url=https://www.wsj.com/articles/paypal-cancels-plans-for-operations-center-400-jobs-over-north-carolinas-transgender-law-1459872277 |work=The Wall Street Journal |date=April 5, 2016 |access-date=2026-02-24}}</ref>
A central theme of Schulman's leadership at PayPal was the company's focus on financial inclusion. He frequently spoke about the need to extend financial services to the estimated billions of people globally who lacked access to traditional banking. This mission connected to his earlier work at both Sprint and Virgin Mobile USA, where he had focused on providing telecommunications access to underserved populations.


Schulman framed the decision as consistent with PayPal's values of inclusion and equality, stating that the company could not proceed with a major investment in a state that had enacted legislation it considered discriminatory. The decision drew both praise from civil rights advocates and criticism from supporters of the North Carolina law.
Under Schulman, PayPal expanded its offerings to include products designed for individuals and small businesses that had historically been excluded from or underserved by the traditional financial system. He emphasized that technology could serve as an equalizer, enabling people to participate in the digital economy regardless of their geographic location or economic status.<ref name="bisuccess" /><ref name="nytcorner" />


==== Departure from PayPal ====
==== Departure from PayPal ====


Schulman stepped down as president and CEO of PayPal in 2023, concluding a tenure of nearly nine years at the helm of the company.<ref name="yahoo" /> During his leadership, PayPal grew from a newly independent company into one of the dominant platforms in global digital payments.
Schulman stepped down as president and CEO of PayPal in 2023, having led the company for nearly a decade through its separation from eBay and its growth into one of the largest digital payments platforms in the world.<ref>{{cite news |last= |first= |date=2025-10-22 |title=Dan Schulman, the former CEO of PayPal, Takes the Helm at Verizon |url=https://finance.yahoo.com/news/dan-schulman-former-ceo-paypal-120116419.html |work=Yahoo Finance |access-date=2026-02-24}}</ref>


=== Verizon ===
=== Verizon ===
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==== Appointment as CEO ====
==== Appointment as CEO ====


On October 6, 2025, the [[Verizon Communications|Verizon]] Board of Directors announced that it had appointed Schulman as the company's chief executive officer, succeeding [[Hans Vestberg]].<ref>{{cite web |title=Verizon Announces CEO Transition |url=https://www.verizon.com/about/news/verizon-announces-ceo-transition |publisher=Verizon |date=October 6, 2025 |access-date=2026-02-24}}</ref> Schulman had previously served as an independent lead director on Verizon's board. His appointment came at a time when Verizon faced increasing competitive pressure, particularly from [[T-Mobile US|T-Mobile]], and investors were seeking new strategic direction for the company.
On October 6, 2025, the Board of Directors of [[Verizon Communications]] announced the appointment of Dan Schulman as chief executive officer, succeeding [[Hans Vestberg]]. Schulman, who had been serving as an independent lead director on Verizon's board, was selected to lead the company through a period of strategic transformation.<ref name="verizonceo">{{cite web |title=Verizon Announces CEO Transition |url=https://www.verizon.com/about/news/verizon-announces-ceo-transition |publisher=Verizon |date=October 6, 2025 |access-date=2026-02-24}}</ref>


==== Restructuring and Strategic Vision ====
The appointment marked a notable transition for both Schulman and Verizon. For Schulman, it represented a return to the telecommunications industry where he had spent a significant portion of his early career. For Verizon, the selection of a CEO with deep experience in digital payments, fintech, and consumer-facing technology signaled a potential shift in strategic direction.<ref>{{cite news |last= |first= |date=2025-10-22 |title=Dan Schulman, the former CEO of PayPal, Takes the Helm at Verizon |url=https://finance.yahoo.com/news/dan-schulman-former-ceo-paypal-120116419.html |work=Yahoo Finance |access-date=2026-02-24}}</ref>


Shortly after assuming the CEO role, Schulman called for what he described as a "full reboot" of Verizon's operations and strategy. In his first major public statements as CEO, he outlined a vision for significant changes at the company, though specific details about the scope and timeline of the transformation were initially limited.<ref>{{cite news |title=Verizon CEO Dan Schulman calls for 'full reboot' |url=https://www.lightreading.com/broadband/verizon-ceo-dan-schulman-calls-for-full-reboot- |work=Light Reading |date=October 29, 2025 |access-date=2026-02-24}}</ref>
==== Strategic Restructuring ====


In a November 2025 message to employees, Schulman thanked Verizon staff for sharing their ideas about the work needed to strengthen the company, signaling an emphasis on internal engagement and cultural change as part of the restructuring effort.<ref>{{cite web |title=Building a stronger Verizon |url=https://www.verizon.com/about/news/building-stronger-verizon |publisher=Verizon |date=November 20, 2025 |access-date=2026-02-24}}</ref>
Shortly after taking the helm, Schulman articulated a vision for significant changes at Verizon. In late October 2025, he publicly called for a "full reboot" of the company, signaling that major restructuring efforts were forthcoming. Industry analysts noted that while the broad outlines of his strategy were clear, specific details regarding implementation timelines and methods were still emerging.<ref name="lightreading">{{cite news |last= |first= |date=2025-10-29 |title=Verizon CEO Dan Schulman calls for 'full reboot' |url=https://www.lightreading.com/broadband/verizon-ceo-dan-schulman-calls-for-full-reboot- |work=Light Reading |access-date=2026-02-24}}</ref>


Industry analysts noted early signs of change under Schulman's leadership. Writing in December 2025, one analyst observed that "something is starting to happen at Verizon" and expressed cautious optimism about the company's direction under its new CEO, while acknowledging that it was still early in the transition.<ref>{{cite news |title=Thoughts on Verizon growth under new CEO Dan Schulman (Analyst Angle) |url=https://www.rcrwireless.com/20251217/business/verizon-under-new-ceo |work=RCR Wireless News |date=December 17, 2025 |access-date=2026-02-24}}</ref>
In November 2025, Schulman issued a public communication entitled "Building a stronger Verizon," in which he thanked employees for their input and outlined the work needed to strengthen the company. The message signaled a leadership style focused on engagement and transparency with the company's workforce.<ref>{{cite web |title=Building a stronger Verizon |url=https://www.verizon.com/about/news/building-stronger-verizon |publisher=Verizon |date=November 20, 2025 |access-date=2026-02-24}}</ref>


As part of his restructuring agenda, Schulman announced in early 2026 that Verizon would cut approximately 13,000 jobs, telling employees that the company must "evolve as a company" by slashing costs and restructuring its operations.<ref>{{cite news |title=Verizon CEO Dan Schulman says the company is cutting 13,000 jobs |url=https://www.aol.com/articles/verizon-ceo-dan-schulman-says-141709765.html |work=AOL |date=February 2026 |access-date=2026-02-24}}</ref> The layoffs represented a significant reduction in Verizon's workforce and signaled the scale of the transformation Schulman was pursuing. Schulman's approach at Verizon also included customer retention strategies, such as offering device incentives to lock in subscribers to longer-term agreements.<ref>{{cite news |title=Is this how Dan Schulman plans to lock more subscribers in at Verizon? |url=https://www.phonearena.com/news/can-verizon-recoup-ground-lost-to-t-mobile_id178413 |work=PhoneArena |date=February 2026 |access-date=2026-02-24}}</ref>
By December 2025, industry analysts were beginning to assess the early trajectory of Schulman's leadership. ''RCR Wireless News'' reported that initial signs of change at Verizon under Schulman's direction were emerging, though it remained early in his tenure.<ref>{{cite news |last= |first= |date=2025-12-17 |title=Thoughts on Verizon growth under new CEO Dan Schulman (Analyst Angle) |url=https://www.rcrwireless.com/20251217/business/verizon-under-new-ceo |work=RCR Wireless News |access-date=2026-02-24}}</ref>


In January 2026, Schulman participated in the [[World Economic Forum]] at [[Davos]], where he joined other business leaders in discussing the impact of [[artificial intelligence]] on the global workforce and the need for coordinated policy responses to manage the technology's effects on employment.<ref>{{cite news |title=CEOs at Davos sound alarm over AI threat to jobs |url=https://observer.co.uk/news/business/article/ceos-sound-alarm-over-ai-threat-to-jobs-at-davos |work=The Observer |date=January 2026 |access-date=2026-02-24}}</ref>
In early 2026, Schulman announced that Verizon would be cutting approximately 13,000 jobs as part of a broader effort to reduce costs and restructure the company. He told employees that the company needed to "evolve as a company," indicating that the job reductions were part of a larger strategic realignment rather than a one-time cost-cutting measure.<ref>{{cite news |last= |first= |date=2026-02-23 |title=Verizon CEO Dan Schulman says the company is cutting 13,000 jobs |url=https://www.aol.com/articles/verizon-ceo-dan-schulman-says-141709765.html |work=AOL.com |access-date=2026-02-24}}</ref>
 
Schulman's approach at Verizon has also included strategies related to customer retention, with reports of the company offering device promotions tied to extended service commitments as a means of reducing subscriber churn.<ref>{{cite news |last= |first= |date=2026-02-23 |title=Is this how Dan Schulman plans to lock more subscribers in at Verizon? |url=https://www.phonearena.com/news/can-verizon-recoup-ground-lost-to-t-mobile_id178413 |work=PhoneArena |access-date=2026-02-24}}</ref>
 
In January 2026, Schulman participated in the [[World Economic Forum]] in [[Davos]], where he joined other business leaders in discussing the impact of [[artificial intelligence]] on the global workforce. The discussions centered on the pace of AI-driven transformation and the need for coordinated policy responses to manage its effects on employment.<ref>{{cite news |last= |first= |date=2026-01 |title=CEOs at Davos sound alarm over AI threat to jobs |url=https://observer.co.uk/news/business/article/ceos-sound-alarm-over-ai-threat-to-jobs-at-davos |work=The Observer |access-date=2026-02-24}}</ref>


== Personal Life ==
== Personal Life ==


Schulman has two children.<ref name="yahoo" /> He has spoken publicly about his interest in martial arts, which he has practiced since youth. In a 2008 profile in ''The New York Times'', he discussed the influence of martial arts on his approach to business leadership, describing how the discipline and mental focus required in martial arts training informed his decision-making and management style.<ref name="nytboss" />
Schulman has two children.<ref name="nytcorner" /> He has maintained a relatively private personal life despite his prominent corporate roles.
 
Schulman has been involved with several nonprofit and civic organizations. He has served on the board of [[Autism Speaks]], the autism advocacy organization.<ref>{{cite web |title=Board of Directors |url=https://www.autismspeaks.org/about-us/board-directors |publisher=Autism Speaks |date= |access-date=2026-02-24}}</ref> He has also served on the Board of Governors of [[Rutgers University]], where he was named vice chairman in 2009, reflecting his commitment to higher education in his home state of New Jersey.<ref name="rutgersboard" />


Schulman has served on several nonprofit boards, including the board of directors of [[Autism Speaks]], an organization focused on advocacy and support for individuals with [[autism spectrum disorder]].<ref>{{cite web |title=Board of Directors |url=https://www.autismspeaks.org/about-us/board-directors |publisher=Autism Speaks |access-date=2026-02-24}}</ref> He has also served on the board of [[Rutgers University]].<ref>{{cite web |title=Daniel H. Schulman, Virgin Mobile USA CEO, to be Honored at Rutgers Business School Annual Awards Dinner |url=https://web.archive.org/web/20100107023757/http://news.rutgers.edu/medrel/news-releases/2009/06/daniel-h-schulman-vi-20090615 |publisher=Rutgers University |date=June 15, 2009 |access-date=2026-02-24}}</ref> Additionally, he served on the board of [[Symantec]], the cybersecurity company.
Schulman has served on the board of directors of [[Symantec]], the cybersecurity company, and has been affiliated with [[Greylock Partners|Greylock Partners']] advisory network.<ref>{{cite web |title=Greylock Partners Team |url=http://www.greycroftpartners.com/team/ |publisher=Greycroft Partners |date= |access-date=2026-02-24}}</ref>


== Recognition ==
== Recognition ==


Schulman has received several notable awards and honors over the course of his career. In 2017, ''[[Fortune (magazine)|Fortune]]'' magazine named him its Businessperson of the Year, recognizing his leadership of PayPal during a period of strong growth and the company's expanding role in global digital payments.<ref>{{cite web |title=Businessperson of the Year 2017 |url=http://fortune.com/businessperson-of-the-year/2017/ |publisher=Fortune |date=2017 |access-date=2026-02-24}}</ref>
Schulman has received several notable awards and recognitions over the course of his career. In 2017, ''[[Fortune (magazine)|Fortune]]'' magazine named him its Businessperson of the Year, acknowledging his leadership of PayPal during a period of significant growth and strategic expansion.<ref>{{cite web |title=Businessperson of the Year 2017 |url=http://fortune.com/businessperson-of-the-year/2017/ |publisher=Fortune |date=2017 |access-date=2026-02-24}}</ref>


Schulman received the Financial Health Visionary Award from the Center for Financial Services Innovation (CFSI), which recognized his efforts to use financial technology to improve the financial health of underserved consumers.<ref>{{cite web |title=Dan Schulman Awarded the Financial Health Visionary Award |url=https://cfsinnovation.org/press-release-dan-schulman-awarded-the-financial-health-visionary-award/ |publisher=Center for Financial Services Innovation |access-date=2026-02-24}}</ref>
He received the Financial Health Visionary Award from the Center for Financial Services Innovation (now known as the Financial Health Network), which recognized his efforts to promote financial health and inclusion through PayPal's products and services.<ref>{{cite web |title=Dan Schulman Awarded the Financial Health Visionary Award |url=https://cfsinnovation.org/press-release-dan-schulman-awarded-the-financial-health-visionary-award/ |publisher=Center for Financial Services Innovation |date= |access-date=2026-02-24}}</ref>


He was also recognized by the [[Council for Economic Education]] through its Visionary Award program, which honors individuals who have made significant contributions to economic and financial literacy.<ref>{{cite web |title=Visionary Awards |url=http://councilforeconed.org/events/visionary-awards/ |publisher=Council for Economic Education |access-date=2026-02-24}}</ref>
The Council for Economic Education also recognized Schulman with its Visionary Award, honoring his contributions to economic literacy and financial education.<ref>{{cite web |title=Visionary Awards |url=http://councilforeconed.org/events/visionary-awards/ |publisher=Council for Economic Education |date= |access-date=2026-02-24}}</ref>


During his time at Virgin Mobile USA, ''FierceWireless'' included Schulman on its list of the "25 Most Powerful People in Wireless," recognizing his role in building one of the most successful MVNOs in the United States.<ref>{{cite web |title=22. Dan Schulman, CEO, Virgin Mobile USA – 25 Most Powerful People in Wireless |url=http://www.fiercewireless.com/special-reports/22-dan-schulman-ceo-virgin-mobile-usa-25-most-powerful-people-wireless |publisher=FierceWireless |access-date=2026-02-24}}</ref>
During his tenure at Virgin Mobile USA, ''FierceWireless'' ranked Schulman among the 25 most powerful people in the wireless industry, a recognition of his impact on the telecommunications sector during the growth of the prepaid wireless market.<ref>{{cite web |title=22 — Dan Schulman, CEO, Virgin Mobile USA — 25 Most Powerful People in Wireless |url=http://www.fiercewireless.com/special-reports/22-dan-schulman-ceo-virgin-mobile-usa-25-most-powerful-people-wireless |publisher=FierceWireless |date= |access-date=2026-02-24}}</ref>


In 2018, Schulman was selected as the commencement speaker for Rutgers University's 252nd anniversary commencement ceremony, reflecting both his professional accomplishments and his connections to New Jersey.<ref>{{cite news |title=Dan Schulman, PayPal president and CEO, named Rutgers University's 252nd anniversary commencement speaker |url=https://news.rutgers.edu/news/dan-schulman-paypal-president-and-ceo-named-rutgers-university%E2%80%99s-252nd-anniversary-commencement/20180409 |work=Rutgers University News |date=April 9, 2018 |access-date=2026-02-24}}</ref><ref>{{cite news |title=Dan Schulman, PayPal president and CEO, named Rutgers University's 252nd anniversary commencement speaker |url=https://www.mycentraljersey.com/story/news/education/college/rutgers/2018/04/10/dan-schulman-paypal-president-and-ceo-named-rutgers-universitys-252nd-anniversary-commencement-speak/502739002/ |work=MyCentralJersey.com |date=April 10, 2018 |access-date=2026-02-24}}</ref>
In 2018, Schulman was selected as the commencement speaker for Rutgers University's 252nd anniversary ceremony, an honor that reflected both his professional accomplishments and his ties to the state of New Jersey.<ref name="rutgerscommencement" />


== Legacy ==
== Legacy ==


Schulman's career has spanned three distinct but interconnected industries — telecommunications, financial services, and financial technology — with a recurring focus on expanding access to services for populations underserved by incumbent providers. At Virgin Mobile USA, he helped build a business model that brought wireless service to younger and lower-income consumers through prepaid plans at a time when the major carriers focused primarily on postpaid subscribers. At American Express, he worked to extend the company's reach into digital and mobile payments. At PayPal, he led the company through its transition to independence and oversaw its growth into a platform used by hundreds of millions of consumers and merchants globally.
Dan Schulman's career has spanned the telecommunications and financial technology industries over more than three decades, and his contributions to both sectors have left a notable imprint. His founding leadership of Virgin Mobile USA helped establish the viability of the mobile virtual network operator model in the United States and demonstrated that the prepaid wireless market could attract significant consumer interest beyond its traditional base.
 
At PayPal, Schulman's nearly decade-long tenure as CEO coincided with a transformative period for the digital payments industry. Under his leadership, PayPal grew from a subsidiary of eBay into an independent company that became one of the defining platforms of the fintech era. His articulation of financial inclusion as a core corporate mission helped shape broader industry conversations about the role of technology companies in expanding access to financial services.


His decision to withdraw PayPal's planned expansion in North Carolina in response to HB2 was one of the most high-profile examples of corporate activism on [[LGBT rights in the United States|LGBT rights]] during the 2010s and contributed to the broader business community's response to the legislation.<ref>{{cite news |title=PayPal Withdraws Plans in North Carolina |url=http://fortune.com/2016/04/05/paypal-withdraws-plans-in-north-carolina/ |work=Fortune |date=April 5, 2016 |access-date=2026-02-24}}</ref>
Schulman's willingness to take public stances on social issues, such as PayPal's withdrawal from North Carolina over House Bill 2, contributed to broader discussions about corporate social responsibility and the role of business leaders in social and political debates.<ref name="fortunenc" /><ref name="wsjnc" />


Schulman's transition to Verizon in 2025 represented a return to the telecommunications industry where he began his career. His appointment was viewed by industry observers as a signal that Verizon's board sought a leader with experience in digital transformation and consumer-facing technology businesses to guide the company through a period of intensifying competition and technological change in the wireless industry.<ref>{{cite news |title=Thoughts on Verizon growth under new CEO Dan Schulman (Analyst Angle) |url=https://www.rcrwireless.com/20251217/business/verizon-under-new-ceo |work=RCR Wireless News |date=December 17, 2025 |access-date=2026-02-24}}</ref>
His appointment as CEO of Verizon in 2025 represented a significant new chapter, bringing his experience in digital transformation and consumer-facing technology to one of the United States' largest telecommunications companies at a time of significant industry change. The early restructuring initiatives under his leadership, including substantial workforce reductions and calls for a "full reboot," suggest an ambitious effort to reposition the company for future growth.<ref name="verizonceo" /><ref name="lightreading" />


== References ==
== References ==
<references />
<references />


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Latest revision as of 06:08, 24 February 2026

Dan Schulman
Schulman in 2013
Dan Schulman
BornDaniel H. Schulman
19 1, 1958
BirthplaceNewark, New Jersey, U.S.
NationalityAmerican
OccupationBusiness executive
TitleCEO of Verizon
Known forFormer President and CEO of PayPal
EducationMiddlebury College (BA)
New York University (MBA)
Children2
AwardsFortune Businessperson of the Year (2017)
Financial Health Visionary Award

Daniel H. Schulman (born January 19, 1958) is an American business executive who serves as the chief executive officer of Verizon Communications. He is best known for his tenure as president and CEO of PayPal Holdings, Inc., a position he held from 2014 until 2023, during which the digital payments company grew into one of the largest financial technology platforms in the world. Before PayPal, Schulman held senior positions at American Express, where he oversaw the company's expansion into alternative mobile and online payment services, and at Sprint, where he led the prepaid wireless division. He was also the founding CEO of Virgin Mobile USA, which became one of the fastest-growing companies in the wireless industry during his leadership. Born in Newark, New Jersey, Schulman built a career that has spanned the telecommunications and financial services industries over more than three decades. In October 2025, the Verizon Board of Directors appointed him as CEO, succeeding Hans Vestberg, marking a new chapter in both his career and the trajectory of one of America's largest telecommunications companies.[1]

Early Life

Daniel H. Schulman was born on January 19, 1958, in Newark, New Jersey. In a 2008 interview with The New York Times, Schulman discussed aspects of his upbringing and the values that shaped his approach to leadership. He grew up in a family that placed importance on education and social consciousness. His background in Newark, a city that experienced significant economic and social challenges during his formative years, influenced his later interest in financial inclusion and expanding access to services for underserved populations.[2]

Schulman has spoken publicly about the influence of his family's values on his career decisions. In a 2017 interview with Business Insider, he discussed how his early experiences shaped his leadership philosophy, particularly his focus on purpose-driven business and his belief that companies should serve broader social goals beyond generating profit.[3]

In a 2018 interview with The New York Times for its "Corner Office" series, Schulman reflected on how his childhood and early career experiences instilled in him a commitment to democratizing financial services and ensuring that technology serves people across all income levels.[4]

Education

Schulman attended Middlebury College, a private liberal arts college in Middlebury, Vermont, where he earned a Bachelor of Arts degree. He subsequently pursued graduate studies at New York University, where he earned a Master of Business Administration (MBA). These institutions provided Schulman with a foundation in both the liberal arts and business management that would inform his subsequent career across multiple industries.[2]

In 2018, Schulman was invited to serve as the speaker for Rutgers University's 252nd anniversary commencement ceremony, reflecting his connections to higher education in New Jersey, where he was born and raised.[5] Schulman has also served on the Board of Governors of Rutgers University, further demonstrating his engagement with educational institutions.[6]

Career

Early Career and Sprint

Before rising to prominence in the technology and financial sectors, Schulman held positions in the telecommunications industry. He served as president of Sprint's prepaid wireless group, where he oversaw the company's efforts to expand prepaid mobile phone services. The prepaid wireless market was a growing segment during this period, as it allowed consumers without traditional credit or long-term contracts to access mobile phone services.[7]

Virgin Mobile USA

Schulman served as the founding CEO of Virgin Mobile USA, a mobile virtual network operator (MVNO) launched in partnership with Richard Branson's Virgin Group. Under his leadership, Virgin Mobile USA established itself as a prominent player in the prepaid wireless market, targeting younger consumers and those who preferred the flexibility of prepaid plans over traditional postpaid contracts. The company's initial public offering took place on the New York Stock Exchange.[8]

During his time at Virgin Mobile USA, Schulman was recognized by FierceWireless as one of the "25 Most Powerful People in Wireless," reflecting the impact of his leadership on the broader telecommunications landscape.[9] His experience at Virgin Mobile USA was formative in establishing his reputation as an executive who could build consumer-facing brands aimed at underserved market segments, a theme that would recur throughout his career.

American Express

In 2010, Schulman joined American Express as group president of enterprise growth. In this role, he was responsible for the company's global strategy to expand alternative mobile and online payment services, form new partnerships, and build revenue streams beyond American Express's traditional card and travel businesses.[10] His appointment reflected American Express's recognition that the payments industry was undergoing a fundamental transformation driven by mobile technology and digital commerce.

At American Express, Schulman oversaw initiatives to position the company in emerging digital payment markets. His work involved developing strategies to compete with new fintech entrants and technology companies that were beginning to challenge traditional financial services firms in the payments space. This experience at the intersection of traditional financial services and emerging digital technology positioned Schulman as a leading candidate for roles in the rapidly growing fintech sector.[11]

PayPal

Appointment and Early Tenure

Schulman was appointed president and CEO of PayPal in 2014, ahead of the company's separation from eBay as an independent publicly traded company. PayPal's spin-off from eBay was completed in July 2015, and Schulman led the company through this transition. His appointment was seen as a signal that PayPal intended to pursue an aggressive growth strategy focused on mobile payments, digital commerce, and financial inclusion.[3]

Under Schulman's leadership, PayPal expanded its platform significantly, growing its user base, transaction volume, and suite of financial products. He articulated a vision for PayPal as a company that would democratize financial services, making digital payments and financial tools accessible to people and businesses across all economic strata. In his 2018 interview with The New York Times "Corner Office" column, Schulman discussed his philosophy of leading with purpose and his belief that companies that prioritize social impact alongside profitability could achieve sustainable long-term growth.[4]

Corporate Social Responsibility and Public Stances

Schulman drew attention for taking public stances on social issues during his tenure at PayPal. In April 2016, PayPal announced the cancellation of a planned $3.6 million operations center in Charlotte, North Carolina, which would have created approximately 400 jobs. The decision was made in response to North Carolina House Bill 2, a state law that restricted transgender individuals' use of public bathrooms. Schulman stated that the law contradicted PayPal's values of inclusion and equality.[12][13]

The decision was part of a broader movement of corporate opposition to the North Carolina law and positioned PayPal as a company willing to make business decisions based on its stated values. The action drew both praise and criticism but established Schulman as a CEO who was willing to engage publicly on social and political matters.

Financial Inclusion Initiatives

A central theme of Schulman's leadership at PayPal was the company's focus on financial inclusion. He frequently spoke about the need to extend financial services to the estimated billions of people globally who lacked access to traditional banking. This mission connected to his earlier work at both Sprint and Virgin Mobile USA, where he had focused on providing telecommunications access to underserved populations.

Under Schulman, PayPal expanded its offerings to include products designed for individuals and small businesses that had historically been excluded from or underserved by the traditional financial system. He emphasized that technology could serve as an equalizer, enabling people to participate in the digital economy regardless of their geographic location or economic status.[3][4]

Departure from PayPal

Schulman stepped down as president and CEO of PayPal in 2023, having led the company for nearly a decade through its separation from eBay and its growth into one of the largest digital payments platforms in the world.[14]

Verizon

Appointment as CEO

On October 6, 2025, the Board of Directors of Verizon Communications announced the appointment of Dan Schulman as chief executive officer, succeeding Hans Vestberg. Schulman, who had been serving as an independent lead director on Verizon's board, was selected to lead the company through a period of strategic transformation.[15]

The appointment marked a notable transition for both Schulman and Verizon. For Schulman, it represented a return to the telecommunications industry where he had spent a significant portion of his early career. For Verizon, the selection of a CEO with deep experience in digital payments, fintech, and consumer-facing technology signaled a potential shift in strategic direction.[16]

Strategic Restructuring

Shortly after taking the helm, Schulman articulated a vision for significant changes at Verizon. In late October 2025, he publicly called for a "full reboot" of the company, signaling that major restructuring efforts were forthcoming. Industry analysts noted that while the broad outlines of his strategy were clear, specific details regarding implementation timelines and methods were still emerging.[17]

In November 2025, Schulman issued a public communication entitled "Building a stronger Verizon," in which he thanked employees for their input and outlined the work needed to strengthen the company. The message signaled a leadership style focused on engagement and transparency with the company's workforce.[18]

By December 2025, industry analysts were beginning to assess the early trajectory of Schulman's leadership. RCR Wireless News reported that initial signs of change at Verizon under Schulman's direction were emerging, though it remained early in his tenure.[19]

In early 2026, Schulman announced that Verizon would be cutting approximately 13,000 jobs as part of a broader effort to reduce costs and restructure the company. He told employees that the company needed to "evolve as a company," indicating that the job reductions were part of a larger strategic realignment rather than a one-time cost-cutting measure.[20]

Schulman's approach at Verizon has also included strategies related to customer retention, with reports of the company offering device promotions tied to extended service commitments as a means of reducing subscriber churn.[21]

In January 2026, Schulman participated in the World Economic Forum in Davos, where he joined other business leaders in discussing the impact of artificial intelligence on the global workforce. The discussions centered on the pace of AI-driven transformation and the need for coordinated policy responses to manage its effects on employment.[22]

Personal Life

Schulman has two children.[4] He has maintained a relatively private personal life despite his prominent corporate roles.

Schulman has been involved with several nonprofit and civic organizations. He has served on the board of Autism Speaks, the autism advocacy organization.[23] He has also served on the Board of Governors of Rutgers University, where he was named vice chairman in 2009, reflecting his commitment to higher education in his home state of New Jersey.[6]

Schulman has served on the board of directors of Symantec, the cybersecurity company, and has been affiliated with Greylock Partners' advisory network.[24]

Recognition

Schulman has received several notable awards and recognitions over the course of his career. In 2017, Fortune magazine named him its Businessperson of the Year, acknowledging his leadership of PayPal during a period of significant growth and strategic expansion.[25]

He received the Financial Health Visionary Award from the Center for Financial Services Innovation (now known as the Financial Health Network), which recognized his efforts to promote financial health and inclusion through PayPal's products and services.[26]

The Council for Economic Education also recognized Schulman with its Visionary Award, honoring his contributions to economic literacy and financial education.[27]

During his tenure at Virgin Mobile USA, FierceWireless ranked Schulman among the 25 most powerful people in the wireless industry, a recognition of his impact on the telecommunications sector during the growth of the prepaid wireless market.[28]

In 2018, Schulman was selected as the commencement speaker for Rutgers University's 252nd anniversary ceremony, an honor that reflected both his professional accomplishments and his ties to the state of New Jersey.[5]

Legacy

Dan Schulman's career has spanned the telecommunications and financial technology industries over more than three decades, and his contributions to both sectors have left a notable imprint. His founding leadership of Virgin Mobile USA helped establish the viability of the mobile virtual network operator model in the United States and demonstrated that the prepaid wireless market could attract significant consumer interest beyond its traditional base.

At PayPal, Schulman's nearly decade-long tenure as CEO coincided with a transformative period for the digital payments industry. Under his leadership, PayPal grew from a subsidiary of eBay into an independent company that became one of the defining platforms of the fintech era. His articulation of financial inclusion as a core corporate mission helped shape broader industry conversations about the role of technology companies in expanding access to financial services.

Schulman's willingness to take public stances on social issues, such as PayPal's withdrawal from North Carolina over House Bill 2, contributed to broader discussions about corporate social responsibility and the role of business leaders in social and political debates.[12][13]

His appointment as CEO of Verizon in 2025 represented a significant new chapter, bringing his experience in digital transformation and consumer-facing technology to one of the United States' largest telecommunications companies at a time of significant industry change. The early restructuring initiatives under his leadership, including substantial workforce reductions and calls for a "full reboot," suggest an ambitious effort to reposition the company for future growth.[15][17]

References

  1. ↑ "Verizon Announces CEO Transition".Verizon.October 6, 2025.https://www.verizon.com/about/news/verizon-announces-ceo-transition.Retrieved 2026-02-24.
  2. ↑ 2.0 2.1 "The Boss".The New York Times.2008-02-24.https://www.nytimes.com/2008/02/24/jobs/24boss.html.Retrieved 2026-02-24.
  3. ↑ 3.0 3.1 3.2 "Dan Schulman Interview — PayPal CEO Success — How I Did It Podcast".Business Insider.2017-08.https://www.businessinsider.com/dan-schulman-interview-paypal-ceo-success-how-i-did-it-podcast-2017-8.Retrieved 2026-02-24.
  4. ↑ 4.0 4.1 4.2 4.3 "Dan Schulman, PayPal — Corner Office".The New York Times.2018-07-27.https://www.nytimes.com/2018/07/27/business/dan-schulman-paypal-corner-office.html.Retrieved 2026-02-24.
  5. ↑ 5.0 5.1 "Dan Schulman, PayPal President and CEO, Named Rutgers University's 252nd Anniversary Commencement Speaker".MyCentralJersey.com.2018-04-10.https://www.mycentraljersey.com/story/news/education/college/rutgers/2018/04/10/dan-schulman-paypal-president-and-ceo-named-rutgers-universitys-252nd-anniversary-commencement-speak/502739002/.Retrieved 2026-02-24.
  6. ↑ 6.0 6.1 "Daniel H. Schulman, Virgin Mobile USA, Inc., Named Vice Chairman of Rutgers Board of Governors".Rutgers University.2009-06-15.https://web.archive.org/web/20100107023757/http://news.rutgers.edu/medrel/news-releases/2009/06/daniel-h-schulman-vi-20090615.Retrieved 2026-02-24.
  7. ↑ "Prepaid Cellphone Plans".The New York Times.2005-08-11.https://www.nytimes.com/2005/08/11/technology/circuits/prepaid-cellphone-plans.html.Retrieved 2026-02-24.
  8. ↑ "Virgin Mobile USA IPO".New York Stock Exchange.https://www.nyse.com/pdfs/VIRGINmobile.pdf.Retrieved 2026-02-24.
  9. ↑ "22 — Dan Schulman, CEO, Virgin Mobile USA — 25 Most Powerful People in Wireless".FierceWireless.http://www.fiercewireless.com/special-reports/22-dan-schulman-ceo-virgin-mobile-usa-25-most-powerful-people-wireless.Retrieved 2026-02-24.
  10. ↑ "American Express Appointments".American Express.2010.http://about.americanexpress.com/news/pr/2010/appts.aspx.Retrieved 2026-02-24.
  11. ↑ "Dan Schulman — Bloomberg".Bloomberg.https://www.bloomberg.com/research/stocks/people/person.asp?personId=174206&ticker=AXP.Retrieved 2026-02-24.
  12. ↑ 12.0 12.1 "PayPal Withdraws Plans in North Carolina".Fortune.2016-04-05.http://fortune.com/2016/04/05/paypal-withdraws-plans-in-north-carolina/.Retrieved 2026-02-24.
  13. ↑ 13.0 13.1 "PayPal Cancels Plans for Operations Center, 400 Jobs, Over North Carolina's Transgender Law".The Wall Street Journal.2016-04-05.https://www.wsj.com/articles/paypal-cancels-plans-for-operations-center-400-jobs-over-north-carolinas-transgender-law-1459872277.Retrieved 2026-02-24.
  14. ↑ "Dan Schulman, the former CEO of PayPal, Takes the Helm at Verizon".Yahoo Finance.2025-10-22.https://finance.yahoo.com/news/dan-schulman-former-ceo-paypal-120116419.html.Retrieved 2026-02-24.
  15. ↑ 15.0 15.1 "Verizon Announces CEO Transition".Verizon.October 6, 2025.https://www.verizon.com/about/news/verizon-announces-ceo-transition.Retrieved 2026-02-24.
  16. ↑ "Dan Schulman, the former CEO of PayPal, Takes the Helm at Verizon".Yahoo Finance.2025-10-22.https://finance.yahoo.com/news/dan-schulman-former-ceo-paypal-120116419.html.Retrieved 2026-02-24.
  17. ↑ 17.0 17.1 "Verizon CEO Dan Schulman calls for 'full reboot'".Light Reading.2025-10-29.https://www.lightreading.com/broadband/verizon-ceo-dan-schulman-calls-for-full-reboot-.Retrieved 2026-02-24.
  18. ↑ "Building a stronger Verizon".Verizon.November 20, 2025.https://www.verizon.com/about/news/building-stronger-verizon.Retrieved 2026-02-24.
  19. ↑ "Thoughts on Verizon growth under new CEO Dan Schulman (Analyst Angle)".RCR Wireless News.2025-12-17.https://www.rcrwireless.com/20251217/business/verizon-under-new-ceo.Retrieved 2026-02-24.
  20. ↑ "Verizon CEO Dan Schulman says the company is cutting 13,000 jobs".AOL.com.2026-02-23.https://www.aol.com/articles/verizon-ceo-dan-schulman-says-141709765.html.Retrieved 2026-02-24.
  21. ↑ "Is this how Dan Schulman plans to lock more subscribers in at Verizon?".PhoneArena.2026-02-23.https://www.phonearena.com/news/can-verizon-recoup-ground-lost-to-t-mobile_id178413.Retrieved 2026-02-24.
  22. ↑ "CEOs at Davos sound alarm over AI threat to jobs".The Observer.2026-01.https://observer.co.uk/news/business/article/ceos-sound-alarm-over-ai-threat-to-jobs-at-davos.Retrieved 2026-02-24.
  23. ↑ "Board of Directors".Autism Speaks.https://www.autismspeaks.org/about-us/board-directors.Retrieved 2026-02-24.
  24. ↑ "Greylock Partners Team".Greycroft Partners.http://www.greycroftpartners.com/team/.Retrieved 2026-02-24.
  25. ↑ "Businessperson of the Year 2017".Fortune.2017.http://fortune.com/businessperson-of-the-year/2017/.Retrieved 2026-02-24.
  26. ↑ "Dan Schulman Awarded the Financial Health Visionary Award".Center for Financial Services Innovation.https://cfsinnovation.org/press-release-dan-schulman-awarded-the-financial-health-visionary-award/.Retrieved 2026-02-24.
  27. ↑ "Visionary Awards".Council for Economic Education.http://councilforeconed.org/events/visionary-awards/.Retrieved 2026-02-24.
  28. ↑ "22 — Dan Schulman, CEO, Virgin Mobile USA — 25 Most Powerful People in Wireless".FierceWireless.http://www.fiercewireless.com/special-reports/22-dan-schulman-ceo-virgin-mobile-usa-25-most-powerful-people-wireless.Retrieved 2026-02-24.

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