Verizon appointed PayPal CEO Dan Schulman (pictured) to its board of directors, a move the operator said would give critical perspectives on its business and opportunities.
In a statement, Verizon said Schulman brought expertise in mobile and extensive experience as chief of a “leading mobile payments company focused on transforming financial services to make life easier for billions of people around the world.”
Schulman has been in charge of PayPal since July 2015, following a ten-month stint as CEO-designee. During his tenure, there has been an acceleration of the company’s move towards providing mobile finance services.
In addition to the finance sector, the executive also brings experience of working for a mobile operator, having previously been president of the prepaid division of Sprint Nextel (now Sprint). He joined the company after it acquired Virgin Mobile USA in 2009, where he had been CEO for the eight years since its inception.
Schulman joins 12 other executives at the helm of Verizon, among them CEO Hans Vestberg and those hailing from a number of other industries including former chiefs at professional services business Deloitte, oil and gas supplier Royal Dutch Shell, and consumer goods company Procter and Gamble.
Commenting on Schulman’s appointment, Verizon executive chairman Lowell McAdam said: “His expertise in mobile technology, as well as his leadership experience in the wireless and telecommunications sectors, provide us with critical industry perspectives on Verizon’s business and opportunities.”Subscribe to our daily newsletter Back