Before PayPal, Schulman held senior leadership roles at AT&T, Priceline ( BKNG ), Virgin Mobile, and American Express ( AXP ). Vestberg, who became CEO in 2018, oversaw major investments in Verizon's 5G network, including the purchase of C-Band spectrum and a nationwide rollout for mobile and home internet services. But his tenure also saw sluggish subscriber growth compared to rivals. In a statement, Vestberg called Schulman's appointment the right move at the right time. "With the pending acquisition of Frontier, it is a good time to pass the baton to Dan," he said. Multiple large companies — including Target ( TGT ), Oracle ( ORCL ), and Spotify ( SPOT ) — have made leadership changes recently or adopted co-CEO structures amid industry shifts and investor pressure for performance. Francisco Velasquez is a Reporter at Yahoo Finance.