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 Well being 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 concentrate on integrating the $20 billion acquisition of Frontier Communications. One former colleague, Denise Leonhard (who’s now Zelle CEO), credit 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 20 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 Well being, he’s pushed robust progress in membership, share worth, internet promoter scores and income, although not but earnings. After spending his first 10 weeks with a special staff every single day, he advised co-founder Josh Kushner that “I’ve broken everything here that’s been broken at Oscar at least twice myself in my career. I could walk in and say, ‘you do this, you do this,’ but I don’t think I would have garnered a lot of support.”
High information
OpenAI funds don’t add up—but
OpenAI has signed offers for computing energy that can price the corporate $1 trillion, the FT experiences. The issue is that the corporate’s annual income is barely $12 billion and its whole valuation is $500 billion.
AMD notches take care of OpenAI
Trump has “sort of made a decision” on Ukraine missiles
The president says he’s leaning towards sending Ukraine long-range Tomahawk missiles that Ukraine may use to make strikes deep inside Russia, however says “I am not looking to see an escalation,” he said.
New tariffs on trucks
President Trump announced a new import tax on Truth Social yesterday: “Beginning November 1st, 2025, all Medium and Heavy Duty Trucks coming into the United States from other Countries will be Tariffed at the Rate of 25%. Thank you for your attention to this matter!”
DBS Group CEO Tan Su Shan tops MPW Asia record
Fortune released its 2025 Most Powerful Women Asia list on Monday, spotlighting 100 women shaping the economic future of the region. DBS Group CEO Tan Su Shan holds the No. 1 spot—see who else made the list here. And be sure to tune in for Tan’s conversation with Diane Brady at the Fortune Most Powerful Women Summit in D.C. next week.
Qualtrics to acquire Press Ganey Forsta
Qualtrics announced that it will acquire health care-survey company Press Ganey Forsta for $6.75 billion, helping to create what Qualtrics CEO Zig Serafin described to Fortune as “the most complete AI platform for experience management.” Press Ganey compiles feedback from patients and doctors in more than 41,000 hospital systems and health care companies.
Everything you need to know about Bari Weiss
Yet another French PM resigns
The French government remains paralyzed after its latest prime minister, Sebastien Lecornu, resigned after just 27 days in office. President Macron could choose another PM, but that would be his sixth in the last two years. He could call an election, but he might lose to Marine Le Pen’s hard-right National Rally party. The government has yet to pass a budget—and the bond market will no doubt have something to say about yields on French government debt. The 10-year bond ticked up sharply to 3.6% yesterday.
Yes, flight delays are getting worse
U.S. Transportation Secretary Sean Duffy has warned that airports could face increasing delays due to the government shutdown. Air traffic controllers are currently required to work without pay (they’ll get retroactive checks when the shutdown ends) but incremental delays are already cascading through major airports.
The markets
S&P 500 futures were down 0.21% this morning. The index closed up 0.36% in its last session at a new high of 6,740.28. STOXX Europe 600 was down 0.21% in early trading. The U.K.’s FTSE 100 was flat in early trading. 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% before the end of the session. Bitcoin was flat at around $123.8K.
Around the watercooler
‘I think you’re testing me’: Anthropic’s newest Claude model knows when it’s being evaluated by Beatrice Nolan
Trump says the American Dream is on hold because ‘big homebuilders’ are ‘sitting on’ 2 million empty lots by Eva Roytburg
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 Day by day is compiled and edited by Joey Abrams and Jim Edwards.
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