Hans did not have the experience or knowledge to lead Verizon - smoke and mirrors and everyone else paid the price(especially employees with vz stock). Sampath is not the right leader either.
Stratton is the best fit to turn the company and stock around. Only met him once.
Good article below.
https://www.mobileworldlive.com/verizon/analysis-why-verizon-needed-a-ceo-shift-change/
He's gone due to abysmal 3Q earnings that are about to be in announced next week.
Hans was one bad decision after another. Hum, go90, yahoo, aol, outsourcing large parts of the business overseas, constant reorganizing that kept the business in chaos. Nothing worked or was given a chance to work. It was like he was betting on the horses hoping for one big win, but he always bet on long shots. Every single one of those things was a huge financial hit with nothing to show for it. If Verizon becomes the next Yahoo to the T-Mobile Google, it will be all on Hans's chaotic decisions.
@10v Not delisting. Your shares have to trades under 2 bucks for that, but 'removal' from the Dow Jones would be a real gut punch to the stock.
https://www.investopedia.com/articles/investing/113015/4-famous-companies-dropped-dow-jones.asp
I wonder if the upcoming layoff has anything to do with it.
Our buddy Hans came in right before they had the offer they gave to at least all Wireline employees. Maybe change CEOs when something major happens to the new CEO doesn’t have responsibility and can say it was already in progress when he/she started.
Surprised Hans lasted this long!
@gd There's no delist risk.... yet.
Sampath is good at social media and guving fireside chats. Terrible track record in terms of delivering results in all the roles he’s been in at Verizon. If Dan keeps in around for more than 6 months, then Dan has really poor judgement as a leader of change.
More time to learn English?
Why Vz replaced Hans"
Let' see:
His management team facilitated the electronic spying on the President of the USA and 8 leading Republican Senators who are in the majority and control the FCC.
A Chinese SIM farm was discovered operating and threatening from our own home turf footprint.
And of course, S&P500 5-year Return = 26% while Verizon's return is (31%)
T-Mobile has pounded the company for every single quarter since Hans was made CEO, and now many sell side analysts proclaim AT&T a better stock to hold than Verizon. I am sure that the Dow Jones may be looking at our membership.
Hans was fired because he was a terrible CEO.
@ga Sampath is/was also the sponsor for many, many Director level H1bs. I think what we just lived through was a smoke and mirrors and wokeness competition between Hans and Sampath. The only losers have been the shareholders, employees, and you!
@g9 NO MORE NON AMERICANS! We need people who know and understand our people. If we have learned ANYTHING over the past five years it is that foreign executives have no idea what they are doing and cost profits!
Hans and Sampath are just like two fantasy football players who had a good rookie season and thought that qualified them to be starters in the NFL. Shareholders and employees lost millions and billions because of their overconfidence in their own BS. I knew these guys were losers when they traded in Excel for Googlesheets and by swapping out expanding our fiber footprint for failed 5G vaporware products. They really are two kids in a candy story with mom and dad's bankcard!
This may sound crazy but Nick Jeffries with Frontier Communications did a fantastic job turning around Vodafone UK and Frontier Communications. I would keep him on as an EVP and make him a front runner when Dan retires.
Stratton at 63 years old is too old to be a candidate. Plus Stratton does not know how to grow and reward his team. I worked for him for three years and in the end he sc--wed me along with all of his direct reports to save his a-s.
What about Elizabeth Holmes?
Nice post Hans
Sampath signed a stay bonus so tells you new cro here to cut cut cut then will hand off after clean u to sampath
Not true. Hans just needed a little more time.