Dan Schulman

Dan Schulman
Schulman in 2013
Dan Schulman
Born	Daniel H. Schulman 19 1, 1958
Birthplace	Newark, New Jersey, U.S.
Nationality	American
Occupation	Business executive
Title	CEO of Verizon
Known for	Former President and CEO of PayPal
Education	Middlebury College (BA) New York University (MBA)
Children	2
Awards	Fortune 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.

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.

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.

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.

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.

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. Schulman has also served on the Board of Governors of Rutgers University, further demonstrating his engagement with educational institutions.

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.

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.

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. 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. 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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Personal Life

Schulman has two children. 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. 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.

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

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.

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.

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

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.

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.

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.

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.