Verizon names a PayPal veteran its next CEO. Can that help its lagging stock?
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Verizon has appointed Dan Schulman, former CEO of PayPal, as its new CEO, replacing Hans Vestberg. This change comes amid Verizon's struggles in the competitive telecommunications market, with shares down 3% following the announcement. Analysts express surprise at the timing and question the challenges Verizon aims to address. Schulman, who has experience in both telecommunications and finance, aims to redefine Verizon's trajectory and improve operational performance. Despite the leadership change, Verizon's stock has underperformed compared to competitors, raising concerns about its strategic direction.
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