Verizon Extends CEO Schulman Through 2028

On 2026-07-24 Verizon extended CEO Schulman's employment term through 2028 and agreed updated pay terms. The company has not disclosed full compensation details in the summary provided here. The announcement was issued concurrently with other company actions on the same date.

As of 2025 Verizon operates two reportable segments: Consumer and Business. The Business segment reported $29.1 billion in revenue for full-year 2025, representing 21% of consolidated revenues; the Consumer segment accounted for the remaining 79% of consolidated revenues. Operational scale at year-end 2025 included approximately 147 million wireless retail connections and 14 million broadband connections (including about 3 million in Business). Verizon's technology and infrastructure focus — including a national wireless network with mid-/low-band spectrum and a growing fiber/Fios footprint — remains central to operations. The company faces established competitors (AT&T Inc., T-Mobile US Inc., Charter Communications Inc.) and operates in an environment the company characterizes as competitive and commoditizing.

The contract extension secures leadership continuity through 2028 while the company executes significant portfolio moves announced on 2026-07-24. Key items for investors to track given the extension and recent corporate actions include: - Portfolio changes: Verizon announced the sale of its international wireline business and a restructuring with layoffs and asset rationalizations on 2026-07-24. These actions may affect near-term operating metrics and cost structure disclosures. - Joint ventures and partnerships: Prior to 2026-07-24, Verizon and BT Group formed a joint venture (Jasper NewCo Limited) on 2026-06-29, reflecting continued partnership activity in the period leading up to the extension. - Revenue mix and scale: With the Consumer segment comprising roughly 79% of consolidated revenue and Business at 21% ($29.1 billion in 2025), management decisions will continue to be evaluated against these revenue drivers and connection metrics (147 million wireless retail connections; 14 million broadband connections as of Dec. 31, 2025). - Competitive and structural limitations: Company material indicates no identified structural economic moat; network scale and spectrum holdings provide scale advantages but face replicable regulatory auction frameworks and aggressive competitor pricing. - Risks: Ongoing litigation (including a legacy contract dispute for telephone directories in Costa Rica recorded in 2024), FCC spectrum and regulatory exposure, and macro pressures from competitor pricing and MVNO resale are flagged as material risks.