https://www.cnbc.com/2018/06/08/verizon-exec-vice-president-hans-vestberg-to-become-companys-new-ceo-will-take-over-aug-1.html

Verizon Communications said Friday that Hans Vestberg will become its new chief executive on Aug. 1 in a move that shows how the No. 1 U.S. wireless carrier is prioritizing developing a next-generation network as it faces more competition from smaller rivals.

Vestberg is currently the chief technology officer of Verizon and will succeed Lowell McAdam, who has served as CEO since August 1, 2011. McAdam will continue to serve as chairman of Verizon's board of directors beyond his retirement at the end of the year.