News Summary

• Verizon recently fired its previous CEO after several years of underperformance.
• The new CEO promised sweeping changes, not just incremental tweaks.
• Dan Schulman admitted that Verizon “relied too heavily on price increases” to sustain profits.
• He suggested Verizon will divest less profitable business segments to become a “simpler, leaner, and scrappier” organization focused squarely on customer satisfaction.
• If it were my call, I’d focus on a leaner retail footprint, while also improving the remaining flagship corporate stores by staffing them with better-trained, better-paid staff.