Why Great Turnarounds Start with Culture, Not Strategy
Summary
HBR IdeaCast host Adi Ignatius interviews Dan Schulman, Verizon’s CEO, about his turnaround strategy for the struggling telecom giant. Schulman discusses shifting from a risk-averse, engineering-focused culture to a customer-obsessed, AI-native organization. He details difficult decisions, including layoffs to fund customer experience improvements, and outlines his vision for leveraging AI infrastructure to drive future growth and competitiveness.
Topics discussed
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Introduction: Dan Schulman's turnaround at Verizon
Why Schulman accepted the CEO role after retirement
Diagnosing Verizon's cultural and strategic failures
Redefining customer obsession and simplifying plans
Balancing fiscal responsibility with customer loyalty
Leading change: Truth-telling and cultural shift
Layoffs, war chest, and early signs of winning
Creating an intense, high-performance work environment
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Verizon's AI strategy and infrastructure plans
Preparing for AI disruption and reskilling employees
Leadership traits: Humility, authenticity, and intensity
The three-year transformation roadmap to AI-native
Conclusion and HBR subscription offer
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