Verizon Communications Inc. (NYSE:VZ) shares dropped 5.11% on Monday to close at $41.44 apiece following leadership changes. Former PayPal chief Dan Schulman takes CEO position, replacing Hans Vestberg. Vestberg will remain as special advisor through October 2026, focusing on a smooth transition including the integration of Frontier Communications.

Mark Bertolini elected chairman of the board of directors. Vestberg expresses pride and gratitude for accomplishments during his tenure at Verizon. Despite leadership changes, Verizon reaffirms its full-year 2025 financial outlook and plans to report third-quarter earnings on October 29.

Verizon’s leadership changes have stirred investor interest. While VZ shows potential as an investment, some believe AI stocks offer higher returns. For more on an extremely cheap AI stock benefiting from Trump tariffs and onshoring, check out our free report on the best short-term AI stock.

Read more at Yahoo Finance: Verizon (VZ) Down 5% Amid Fresh Leadership Changes