Good morning. Having met many leaders, I’ve discovered two qualities that distinguish those that stand out: curiosity and the braveness to make daring choices. They search for alternatives to be taught and have a way of mission in what they do. Two individuals who come to thoughts are former PayPal CEO Dan Schulman and Oscar Health CEO Mark Bertolini, each of whom now have new roles at Verizon.
Schulman yesterday turned Verizon’s new CEO, whereas Bertolini was elected board chair. Former CEO Hans Vestberg will keep on as a particular advisor to give attention to integrating the $20 billion acquisition of Frontier Communications. One former colleague, Denise Leonhard (who’s now Zelle CEO), credits Schulman with making a tradition of enjoyable and shared mission that enabled PayPal to show round. I consider Dan as a frontrunner who will cease to interact in debate on the streets of Davos and one who’s as prone to be discovered asking questions from the viewers as sharing concepts from the stage. Whereas greatest recognized for his achievements throughout his 9-year tenure as CEO of PayPal, he involves Verizon with the expertise of getting been the founding CEO of Virgin Cellular and he labored nearly twenty years at AT&T.
I first met Bertolini when he was CEO of Aetna, the place he pioneered the usage of digital well being instruments and raised the minimal wage by 33%. In his two-plus years as CEO of Oscar Health, he’s pushed robust progress in membership, share value, web promoter scores and income, although not but income. After spending his first 10 weeks with a special workforce day-after-day, he instructed co-founder Josh Kushner that “I’ve damaged all the things right here that’s been damaged at Oscar no less than twice myself in my profession. I may stroll in and say, ‘you do that, you do that,’ however I don’t assume I might have garnered numerous help.”
I point out Bertolini as a result of there’s one other prerequisite for fulfillment within the high job: Having a robust relationship with one’s board—one thing Schulman little doubt appreciates having served on Verizon’s board since 2018. Verizon’s inventory dropped 5% yesterday, whereas different telecom rivals dipped, too. That might sign that traders are unnerved by the sudden management transition, or fearful about business challenges forward. It actually reveals they need to see a robust and cohesive imaginative and prescient for Verizon to win from right here.
Contact CEO Every day through Diane Brady at diane.brady@fortune.com
Prime information
OpenAI funds don’t add up—but
OpenAI has signed offers for computing energy that can value the corporate $1 trillion, the FT reports. The issue is that the corporate’s annual income is just $12 billion and its complete valuation is $500 billion.
AMD notches cope with OpenAI
AMD shares soared on Monday following information that the semiconductor firm will signal a deal to turn into one in every of OpenAI’s primary chip suppliers. The deal may generate tens of billions in income for AMD because it competes with business chief Nvidia.
Trump has “type of decided” on Ukraine missiles
The president says he is leaning toward sending Ukraine long-range Tomahawk missiles that Ukraine may use to make strikes deep inside Russia, however says “I’m not trying to see an escalation,” he mentioned.
New tariffs on vans
President Trump announced a new import tax on Fact Social yesterday: “Starting November 1st, 2025, all Medium and Heavy Responsibility Vehicles coming into the US from different Nations will likely be Tariffed on the Charge of 25%. Thanks on your consideration to this matter!”
DBS Group CEO Tan Su Shan tops MPW Asia checklist
Fortune launched its 2025 Most Highly effective Girls Asia checklist on Monday, spotlighting 100 ladies shaping the financial way forward for the area. DBS Group CEO Tan Su Shan holds the No. 1 spot—see who else made the checklist here. And make sure to tune in for Tan’s dialog with Diane Brady on the Fortune Most Powerful Women Summit in D.C. subsequent week.
Qualtrics to amass Press Ganey Forsta
Qualtrics introduced that it’s going to purchase well being care-survey firm Press Ganey Forsta for $6.75 billion, serving to to create what Qualtrics CEO Zig Serafin described to Fortune as “essentially the most full AI platform for expertise administration.” Press Ganey compiles suggestions from sufferers and docs in additional than 41,000 hospital methods and well being care corporations.
Every little thing it’s worthwhile to learn about Bari Weiss
The WSJ and the NYT each have prolonged bios concerning the new CBS Information editor-in-chief, her political beliefs and her varied enterprise alliances.
Yet one more French PM resigns
The French authorities stays paralyzed after its newest prime minister, Sebastien Lecornu, resigned after just 27 days in office. President Macron may select one other PM, however that may be his sixth within the final two years. He may name an election, however he would possibly lose to Marine Le Pen’s hard-right Nationwide Rally social gathering. The federal government has but to move a funds—and the bond market will little doubt have one thing to say about yields on French authorities debt. The ten-year bond ticked up sharply to three.6% yesterday.
Sure, flight delays are getting worse
U.S. Transportation Secretary Sean Duffy has warned that airports may face growing delays because of the authorities shutdown. Air site visitors controllers are presently required to work with out pay (they’ll get retroactive checks when the shutdown ends) however incremental delays are already cascading by way of main airports.
The markets
S&P 500 futures had been down 0.21% this morning. The index closed up 0.36% in its final session at a brand new excessive of 6,740.28. STOXX Europe 600 was down 0.21% in early buying and selling. The U.Ok.’s FTSE 100 was flat in early buying and selling. Japan’s Nikkei 225 was flat. China’s CSI 300 was up 0.45%. The South Korea KOSPI was up 2.7%. India’s Nifty 50 was up 0.54% earlier than the tip of the session. Bitcoin was flat at round $123.8K.
Across the watercooler
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Trump says the American Dream is on hold because ‘big homebuilders’ are ‘sitting on’ 2 million empty lots by Eva Roytburg
These 2 kinds of employees are emerging in the AI-generated ‘workslop’ era—here’s why it may be better to write the email yourself by Jessica Coacci
Before the McLaren CEO got a $50 million payday from his team’s F1 championship, he was a high-school dropout who got his start on Wheel of Fortune by Sasha Rogelberg
CEO Every day is compiled and edited by Joey Abrams and Jim Edwards.
