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As 2018 progressed, the toll of these miscalculations began to weigh heavily on McAdam, leading to his retirement announcement less than a year after the launch of Oath. Despite some notable achievements throughout his career, the consequences of aggressive expansion and high-risk acquisitions had rendered Verizon vulnerable, paving the way for a necessary transformation within the organization.
Chapter 3: Refocusing
Entering this turbulent phase, Verizon’s board sought a new leader to redirect the company towards a more sustainable path. Hans Vestberg, brought in as Chief Technology Officer, was appointed as the new CEO. He faced an uphill battle, with Oath floundering amidst massive debt and slow revenue growth.