Asma Ferrezon, former CEO of Pibal Dan Shuelman, as a new executive president

Verizon Communications On Monday, Dan Shuelman, the new CEO, appointed the new CEO, to replace Hans Vestberg in a leadership transition aimed at directing the communications giant by slowing the growth in the wireless market.

The move comes at a time when Verizon is fighting the increasing competition against the background of the slowdown in the growth of subscribers and consumers who do not want to buy distinguished plans offered by wireless transport companies.

Choelman, 67, led Paypal nearly a decade before step down in 2023, as he directed payments by separating EBAY and increased online transactions during the roaming epidemic.

Verizon ends DEI programs, and the goals of diversity because they seek to obtain approval to obtain the boundaries

Shuelman, who has Serve on Verizon For seven years, it focuses on improving customer experience. “Most important during that time was not related to technology or scope, they were about culture, listening to customers and enabling teams to lead real change,” he told employees in an email on PayPal.

He added: “We must lead to financial results that exceed the current market expectations.”

Festberg supervised the purchase and development of the basic wireless wireless spectrum at the 2021 auction, then negotiating with the organizers and airlines to publish. A $ 20 billion deal has also been concluded to get Frontier and $ 6 billion in acquisition of the TracFone Wireless.

Verizon has also conversations about getting the spectrum from Echostar.

“We have made transformational investments in the C-Band spectrum that put us to win the next era of contact,” Vestberg said in a memo to the employees on Monday. “We are also about to close the Frontier acquisition, which will increase the expansion of our wide range of scope fingerprint and open more opportunities for growth.”

Verizon shares decreased by 3 % in morning trading.

Verizon state was distinguished by heavy investments in 5G networks The efforts made to diversify revenues through the media and institutions, although the company later left most of the media holdings. Verizon faced increasing pressure from the AT & T and T-Mobile Us competitors with the American wireless market maturity.

Get Fox Business on the Go by clicking here

Festberg, who took over in 2018, will remain with the company as a private consultant until October 2026.

Verizon shares have been less performance in the shares of competing communications operators in the past few years.

The date comes a few weeks after the T-Mobile announcement of the replacement of the CEO, which reflects the American telecommunications sector that changes with market leaders who are working to attract consumer dollars in fierce competition.