Former Paypal chief, Dan Schulman, appointed CEO of Verizon
Good morning. Having met many leaders, I found two qualities that distinguish those who stand out: curiosity and courage to make daring decisions. They are looking for opportunities to learn and have a feeling of mission in what they are doing. Two people who come to mind are the former CEO of Paypal, Dan Schulman, and the CEO of Oscar Health, Mark Bertolini, who both have new roles to Verizon.
Schulman became the new CEO of Verizon yesterday, while Bertolini was elected Chairman of the Board of Directors. The former CEO Hans Vestberg will remain as a special advisor to focus on the integration of the acquisition of $ 20 billion in the Communications Frontier. A former colleague, Denise Leonhard (who is now CEO of Zelle), attributes to Schulman for having created a culture of pleasure and shared mission which allowed Paypal to turn around. I think of Dan as a leader who will stop to engage in the debate in the streets of Davos and the one who is also likely to be found to ask questions as sharing ideas of the scene. Although known for his achievements during his 9 -year mandate as PDG of Paypal, he comes to Verizon with the experience of having been the founding CEO of Virgin Mobile and he worked almost two decades in AT&T.
I met Bertolini for the first time when he was CEO of Aetna, where he launched the use of digital health tools and increased the minimum wage by 33%. During his two years and more CEOs of Oscar Health, he led to a strong growth in membership, stock prices, net scores of promoters and income, but not yet profits. After spending his first 10 weeks with a different team every day, he told the co-founder Josh Kushner that “I broke everything here which had been broken at Oscar at least twice in my career. I could enter and say, “You do this, you do this”, but I don’t think I would have obtained a lot of support. ”
I mention Bertolini because there is another condition prior to success in the best job: to have a solid relationship with his board of directors – something that Schulman undoubtedly appreciates having sat on the Board of Directors of Verizon since 2018. This could point out that investors are annoyed by the sudden transition of leadership or are concerned about the challenges of the coming industry. It certainly shows that they want to see a strong and coherent vision for Verizon to win from here.
Contact the CEO every day via Diane Brady in Diane.brady@fortune.com
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