Verizon appointed Dan Schulman, former PayPal CEO, as its new chief executive officer, signaling a leadership shift as the company integrates its $20 billion acquisition of Frontier Communications. Schulman, with a background running Virgin Mobile and AT&T, succeeds Hans Vestberg, who remains as a special advisor. Mark Bertolini, Oscar Health CEO, was elected Verizon's board chair. The sudden transition unsettled investors, reflected in a 5% drop in Verizon's stock and similar declines in telecom competitors — indicating concerns over the company's future strategy in a competitive industry landscape.