The telecom giant Verizon said on Friday that it was installing its head of technology as chief executive. The changing of the guard comes at a time when the wireless industry as a whole is grappling with new technologies and a wave of consolidation.

In a statement, Verizon said that Lowell C. McAdam, the current chief executive, was retiring and that Hans E. Vestberg, the chief technology officer, will succeed him on Aug. 1.

The choice of Mr. Vestberg, who has overseen the deployment of next-generation 5G mobile services, underscores the importance Verizon places on that technology, which will greatly increase download speeds and lay the wireless foundation for self-driving cars and smart appliances.

“I am humbled to be appointed C.E.O. of Verizon at such an exciting and dynamic time for our company and industry,” Mr. Vestberg said in the statement. “We are experiencing unprecedented changes in the way users interact in the digital world, and we are racing ahead to remain at the forefront of technology, connectivity and mobility.”