Verizon Communications on Monday named former PayPal boss Dan Schulman as its new chief executive officer, replacing Hans Vestberg in a leadership transition aimed at steering the telecom giant through slowing growth in the wireless market. The move comes as Verizon is battling rising competition against the backdrop of slowing subscriber growth and cautious consumers unwilling to buy premium plans offered by wireless carriers. Schulman, 67, led PayPal for nearly a decade before stepping down