Leadership Change - Verizon announced the immediate replacement of CEO Hans Vestberg by Dan Schulman, former CEO of PayPal and a veteran in the telecom industry [1] - Vestberg will serve as a special advisor until October 4, 2026, focusing on a smooth transition and the integration with Frontier Communications, expected in Q1 2026 [2] - Mark Bertolini has been appointed as the new board chairman [2] Background of New CEO - Dan Schulman has been on Verizon's board since 2018 and served as CEO of PayPal from 2014 to 2023, with prior experience at AT&T, Virgin Mobile, and Sprint Nextel [3] Industry Context - This leadership change follows another significant CEO transition at T-Mobile, indicating a trend of leadership shifts within the wireless industry [4] - The timing of Verizon's leadership change is notable, occurring just after the end of Q3 2025 and shortly before the company releases its earnings [5] Customer Dynamics - In Q1 2025, Verizon lost nearly 300,000 wireless customers, attributed to seasonal fluctuations, while in Q2 2025, it lost 51,000 wireless postpaid customers but gained 50,000 wireless prepaid customers and 278,000 broadband customers [8] Market Conditions - The wireless industry in 2025 is described as "epically weird" due to tariffs, government cuts, and economic challenges [9] - Verizon is in the process of acquiring Frontier Communications, with the deal approved by the FCC in May 2025, contingent on ending its diversity, equity, and inclusion programs [9] Future Outlook - Speculation exists that the leadership change could be a precursor to developing 6G technologies, as the industry seeks transformative strategies to leverage investments in 5G [11]