8-KLeadership Changes

VERIZON COMMUNICATIONS INC 8-K Report, Executive Changes (Sep 6, 2018)

Filed September 6, 2018For Securities:VZ

Summary

Verizon Communications Inc. (VZ) announced a significant addition to its Board of Directors with the immediate election of Daniel H. Schulman, President and CEO of PayPal Holdings, Inc. This appointment, effective September 6, 2018, brings a new executive with extensive experience in digital payments and technology to Verizon's oversight body. Mr. Schulman's role as a director means he will be subject to Verizon's standard compensation program for non-employee directors, as detailed in their March 19, 2018 proxy statement. While not yet assigned to any specific board committees, his appointment suggests a strategic focus by Verizon to leverage his expertise, potentially in areas related to digital transformation, customer engagement, and the evolving landscape of telecommunications and financial services.

Key Highlights

  • 1Verizon Communications Inc. appointed Daniel H. Schulman as a new director to its Board.
  • 2Daniel H. Schulman is also the President and CEO of PayPal Holdings, Inc.
  • 3The election of Mr. Schulman to the Board is effective immediately as of September 6, 2018.
  • 4Mr. Schulman will participate in the existing compensation program for non-employee directors.
  • 5He has not yet been assigned to any Board committees.
  • 6This appointment brings a high-profile executive with expertise in digital payments and technology to Verizon's leadership.

Frequently Asked Questions

Daniel H. Schulman is the President and CEO of PayPal Holdings, Inc. His appointment to Verizon's Board of Directors is significant because it adds an executive with deep experience in the digital payments and technology sector, potentially bringing valuable insights into strategic initiatives for Verizon.

Mr. Schulman's election as a director is effective immediately as of September 6, 2018.

Mr. Schulman will be compensated according to Verizon's standard compensation program for non-employee directors, which is outlined in their definitive proxy statement filed on March 19, 2018.

As of the filing date, Mr. Schulman has not yet been named to any specific committees of the Board of Directors.