New at Verizon $VZ-1.5%, they are looking for a CFO.
A company quite popular even among investors is undergoing a leadership change. The company, which has been in business for a significant number of years, is quite stable with a nice dividend. A Monday report in the Wall Street Journal said they are working with advisors to find a "CFO plus" to hire an executive who would improve the company's business performance and also could become a CEO candidate in the future. The current CEO, Hans Vestberg, is actively involved in this along with members of the Board.
There has been quite a turnover in the positions over the past few years. In March, the company announced a change in leadership in the consumer sector, where things started to tie up as it reported a loss of up to 127,000 customers using flat-rate phones in 1Q this year. Sowmyanarayan Sampath took up the position in March, until then held by CEO Hans Vestberg himself,
Verizon
VZThanks to investor interest, I started thinking about the company here as well. Unfortunately for a Verizon-type company, Amazon $AMZN+1.4% recently broke the news that it wants to offer free mobile services to Prime subscribers in the US.
How do you view the outlook for this company in light of these two reports. 1, competition and 2, changes in leadership positions, both from March in the consumer sector and now looking for a CFO?
I guess I would welcome any change in leadership here. The company needs to wake up a bit in some respects.
I believe in a return to the limelight. The company has many challenges ahead, but I believe in the return of good old Verizon. And I don't think Amazon will threaten them.
Let's see how the stock reacts to this. They don't think it will have a major impact (at least today). Otherwise, it's a nice place😊
Hopefully, $VZ-1.5% will wake up. ✌
The new director will definitely have a hard time in this tough environment. Plus, the move by Amazon may yet steal customers from these companies as Amazon Prime is quite prevalent there, so why not take advantage.