"From my view, Verizon has struggled to articulate a clear strategy around market positioning, branding, and pricing, sticking too long to messaging that produced success when it was clearly the best network in the industry."
""an extraordinary leader" who drove network investment and innovation. "the board and Hans discussed that now is the right time for a CEO transition.""
""Verizon is at a critical juncture.""
Dan Schulman, Verizon lead director and former PayPal CEO, is succeeding Hans Vestberg as Verizon's CEO effective immediately. The company reconfirmed full-year 2025 guidance and postponed its third-quarter earnings release to Oct. 29. Chairman Mark Bertolini praised Vestberg as an extraordinary leader who drove network investment and innovation and said the board and Vestberg agreed the timing was right for a CEO transition as the Frontier Communications acquisition nears completion. Schulman has served on Verizon's board since 2018 and was elected lead independent director in December. Analysts said Verizon underperformed under Vestberg and struggled with market positioning, branding, pricing, and growth forecasts.
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