Verizon has enlisted Dan Schulman, a seasoned executive with an extensive track record, to their team. Schulman began his career at AT&T as an account manager, eventually managing tens of thousands of employees as a president. His career trajectory then led him to Priceline, where he boosted revenue significantly from $20 million to $1 billion.
He continued his leadership path at Virgin Mobile USA under the guidance of Sir Richard Branson, growing users and sales substantially until the company was acquired by Sprint Nextel in 2007. For a shift in his career arc, Schulman moved out of wireless, joining American Express and then PayPal, leading the company post-eBay split.
Now, as he joins Verizon, he brings a wealth of experience and a reputation for driving growth. CEO Hans Vestberg sees great potential in this move, hoping Schulman could reignite stagnating growth, despite the company’s status as a leader in the U.S. wireless market. Verizon, though successful, has been grappling with growth challenges for years.
The wireless industry itself has undergone significant transformations since the early days. It began with analog voice calls, evolved through different technological phases like 2G, 3G, and up to 5G and beyond. Each era presented growth and competition challenges. The landscape is notably different from when Schulman last navigated it, including the rise of Mobile Virtual Network Operators (MVNOs) such as Xfinity Mobile and Spectrum Mobile, intensifying competition for giants like AT&T, T-Mobile, and of course, Verizon.
The industry’s evolution also mirrors the changes in technology use. Smartphones like iPhones and Android devices have transformed how we communicate, raising the stakes in the app economy, which now boasts millions of applications. The economic landscape has also shifted, facing troubles that might be alleviated under new political leadership.
Verizon’s recent history with strategic redirections has been a subject of scrutiny. The focus shifted at one time to strange acquisitions, and the company struggled to find its growth trajectory. The hope is that Schulman, armed with his old-school wireless savvy and fresh perspectives, may guide Verizon back to a robust path.
