Verizon (VZ) Down 5% Amid Fresh Leadership Changes

We recently published 10 Stocks Investors Are Dumping. Verizon Communications Inc. (NYSE:VZ) is one of the worst performers on Monday.

Verizon dropped its share prices by 5.11 percent on Monday to close at $41.44 apiece as investors digested leadership changes in the company, with former PayPal chief Dan Schulman taking the CEO position effective immediately.

Schulman is set to replace Hans Vestberg, who led Verizon Communications Inc. (NYSE:VZ) for more than eight years. He will remain as special advisor through October 4, 2026, and focus on ensuring a smooth transition, including the integration of Frontier Communications, which is expected to close in the first quarter next year.

Meanwhile, Mark Bertolini was elected chairman of the board of directors.

“Leading Verizon over the past 8 years has been the greatest privilege of my career, and I’m filled with pride and gratitude for what we’ve accomplished. We built America’s best and most trusted network that will serve our customers and company for years to come. Dan has the vision to lead us forward, and will guide Verizon into a future of growth and innovation,” Vestberg said in a post on LinkedIn.

“I will remain a loyal Verizon customer and a V Teamer for life. I look forward to supporting Dan and the rest of the team to ensure a smooth transition,” he noted.

Despite the leadership changes, Verizon Communications Inc. (NYSE:VZ) reaffirmed its previously guided financial outlook for full-year 2025. It is expected to report its third-quarter earnings performance on October 29.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.