Daniel H. Schulman elected as Verizon lead director

NEW YORK, NY – The Board of Directors of Verizon Communications Inc. (NYSE, Nasdaq: VZ) has elected Daniel H. Schulman as lead director, effective immediately. Schulman has served on Verizon’s Board since 2018 and is the Former President and Chief Executive Officer of PayPal Holdings, Inc. Schulman succeeds Clarence Otis, Jr., who has served in the role since 2019 and who will remain an independent director.

“I am grateful for Clarence’s strategic vision as lead director. His dedication and exceptional leadership have been instrumental in guiding us through significant company milestones, including differentiated customer offerings with more value and choice. I look forward to his continued contributions to Verizon’s Board," said Chairman and CEO Hans Vestberg. “Dan has consistently demonstrated his ability to drive revenue growth, expand market share, and create shareholder value through a focus on innovation and customer-centric solutions. I am confident that Dan’s expertise and perspective as Verizon’s new lead director will further extend our industry leadership.”

In his most recent role as the CEO of PayPal, Schulman led the company’s transformation to revolutionize how people move and manage money. Throughout his career, he has held senior leadership roles, driving significant change and growth in the technology, telecommunications and finance industries.

The Verizon Board currently consists of 11 directors, 10 of whom are independent, with a broad set of viewpoints, backgrounds and expertise to provide a range of perspectives to the Verizon management team.