Overview

• Schulman takes over immediately, while Vestberg will remain as a special adviser through Oct. 4, 2026 to support the transition and Frontier integration.
• Mark Bertolini was elected board chair as Verizon aligns leadership around the $20 billion Frontier acquisition, targeted to close in the first quarter of 2026.
• Verizon reaffirmed its full‑year 2025 outlook and scheduled third‑quarter results for Oct. 29, 2025.
• Verizon shares fell roughly 3% to 4% after the announcement as investors assessed execution in a slowing wireless market.
• Schulman, a Verizon director since 2018 and former PayPal chief, emphasized plans to grow market share, strengthen customer experience, and reduce costs.