Mark Bertolini on new role as Verizon chairman: Losing 30% share over the last 8 years is an issue

Company Overview - Verizon has experienced a decline in market position, dropping from number one to number three in market capitalization, bond ratings, and share value [1] - The company has lost 30% of its market share over the past eight years, indicating a significant issue that needs to be addressed [2] Strategic Changes - The newly appointed CEO, Dan Schulman, is tasked with evaluating the underlying cost structure and implementing changes to improve the company's performance [2] - There is a belief that once a comprehensive plan is established, Verizon will have a compelling narrative to present to the market [3] Market Dynamics - The market has reacted to the potential for a price war, but the focus is shifting towards the value of the products offered rather than just pricing strategies [3] - The board of Verizon recognized the need for action and has taken steps to address the company's challenges [3]