Verizon has announced the election of Dan Schulman, president and chief executive officer of PayPal to its board of directors. The appointment became effective from September 6th and take the total number of board to 13.
As they say:
Dan is an innovative leader who brings to Verizon extensive experience as CEO of a leading mobile payments company focused on transforming financial services to make life easier for billions of people around the world.
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. We are very pleased to have Dan join our board.
– Lowell McAdam, executive chairman, Verizon
Schulman has been the president and chief executive officer of PayPal since 2015. Prior to this, and he has previously has senior roles at American Express and the Sprint Nextel Corporation.
There is no word on how this appointment might prove beneficial to PayPal or Verizon but this sort of board appointments in big US companies, which are surprisingly commonplace, do give opportunities to forge corporate partnerships, make new contacts and cross pollinate ideas. Obviously as a massive telecommunications, particularly in the United States, there could be a strategic opportunity for mobile payments.
