Why Are Verizon (VZ) Shares Trading Lower Monday - Verizon Communications (NYSE:VZ)

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Verizon Communications Inc (NYSE:VZ) shares are trading lower Monday following reports of Chief Marketing Officer Diego Scotti's departure after nearly nine years.
Scotti has been looking for a new job for some time, the Wall Street Journal cites familiar sources.
Scotti has announced his plans to leave Verizon to focus on building a new chapter in his career and explore new challenges, read the company's internal memo by CEO Hans Vestberg.
Scotti will leave the company later this year, reporting to Vestberg while helping the CEO transition to a new marketing team.
Chief Strategy Officer and Executive Vice President Rima Qureshi will lead Verizon's marketing team on an interim basis.
Verizon in March named Senior Vice President & Controller Tony Skiadas as the new CFO after Matt Ellis shared plans to depart to pursue other interests, effective May 1. Ellis has been the CFO since November 2016.
In April, Verizon reported a first-quarter FY23 sales decline of 1.9% year-on-year to $32.9 billion, missing the consensus of $33.6 billion.
Adjusted EPS of $1.20 was in line with the consensus.
The quarter marked 437,000 total broadband net additions.
Price action: VZ shares traded lower by 1.63% at $36.98 on the last check Monday.
Photo via Wikimedia Commons

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Why Are Verizon Shares Trading Lower Monday