Verizon’s New CEO Sets Aggressive Strategy to Gain Subscribers

Verizon Communications Inc., the US’s largest mobile-service provider, reported a loss in wireless phone subscribers in the third quarter as a new chief executive officer laid out an aggressive growth strategy to reclaim market share.

Dan Schulman, a former CEO of PayPal Holdings Inc., was appointed just a few weeks ago to replace Hans Vestberg after two consecutive quarters of subscriber declines and a stock performance that has lagged Verizon’s two main rivals.

“We are going to take bold and fiscally responsible action to redefine Verizon’s trajectory at this critical inflection point for our company,” Schulman said ...