New Street Research - Verizon Communications Inc. (VZ) VZ CEO Transition Quick Take: Cutting costs, throwing elbows, financial guardrails, loosening leverage targets

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New Street Research

David Barden

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VZ CEO Transition Quick Take: Cutting costs, throwing elbows, financial guardrails, loosening leverage targets

Yesterday morning Verizon announced that CEO & Chairman Hans Vestberg is being replaced by Dan Schulman, the lead independent director and former CEO of PayPal, effective immediately. This is the third Monday in a row for CEO transition announcements (Srini replaced Mike at T-Mobile on Monday two weeks ago, and Mike joined Brian as Co-CEO at Comcast last week Monday). In this note, we cover thoughts on what the CEO change portends for Verizon, and what this surprising round of executive musical chairs potentially means for competitive intensity in wireless.

07/10/2025 1 EN

Underlying

Verizon Communications Inc.

Verizon Communications is a holding company. Through its subsidiaries, the company provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The company has two reportable segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business). The company's Consumer segment provides consumer-focused wireless and wireline communications services and products under the Verizon brand and through wholesale and other arrangements. The company's Business segment provides, among others, wireless and wireline communications services and products, video and data services, corporate networking solutions, security and managed network services.

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US92343V1044 New York Stock Exchange United States

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

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Analysts

David Barden

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VZ CEO Transition Quick Take: Cutting costs, throwing elbows, financial guardrails, loosening leverage targets

Verizon Announces CEO Transition

Verizon Business collaborates with GE Vernova to Deliver Utilities Enhanced Grid Modernization Solutions

Will Chinese Investment in SpaceX affect the FCC 2GHz review?

AWS/GCP: How long does it take to pay off an XPU?

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