New Verizon CEO flags reasons why customers are leaving Amid its customer struggles, on Oct. 6, Verizon named Dan Schulman as the new CEO of the company, replacing Hans Vestberg. During an earnings call on Oct. 29, Schulman said that Verizon is "clearly falling short" of its potential. "We are not delivering the shareholder returns our investors expect," said Schulman. "Despite investing significantly in network leadership, we have not been able to translate that into winning in the market." He also said that there are four reasons why Verizon is losing customers: price increases, friction in the customer experience, negative value perception and intense competition in the telecom industry. Related: Verizon angers customers with new tactic to boost loyalty Schulman emphasized that Verizon needs to "aggressively transform" its culture and financial profile by being more "customer-centric and executing with financial discipline with a focus on shareholder value." He also admitted that recent price hikes were a bad idea.
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