Overview

• Hans Vestberg, who led Verizon since 2018, steps down as chief executive and remains on the board until the 2026 annual meeting.
• Vestberg will serve as a special adviser through October 4, 2026 to support the leadership transition and the Frontier Communications deal.
• Verizon appointed Mark Bertolini as chairman of the board as part of the governance changes.
• Schulman previously led PayPal for nearly a decade, bringing consumer and digital expertise as Verizon navigates slower wireless growth and tougher competition.
• Verizon shares rose modestly following the announcement, with premarket trading up about 1.3%.