Quick Exit: Peloton CMO Makes Surprising Leap to Verizon
Leslie Berland, former Peloton CMO, makes a remarkable move to Verizon, ready to revolutionize the telecom brand under CEO Hans Vestberg's guidance
Leslie Berland has been appointed as chief marketing officer for Verizon Communications, effective January 9, according to a press release. She is taking on the top marketing role following the departure of Diego Scotti, who served as CMO for nine years, an unusually long tenure for the C-suite position. Last year, Verizon also lost its chief creative officer Andrew McKechnie as part of a broader streamlining of its marketing organization.
In her new role, Berland will be responsible for marketing activation and effectiveness, creative strategy, consumer insights, and forming strategic and media partnerships. She will be joining Verizon's executive leadership team and will report directly to CEO Hans Vestberg.
"This is a truly transformative moment for our industry. While our networks and technology are fundamental to realizing our future potential, the strength of our brand is crucial to achieving our goals and sustaining our progress," Vestberg stated. "In creating a more connected world, we require a marketing leader with the foresight and vision to lead a new era for the Verizon brand, aligning with our company's growth."
Berland is making the move to Verizon following a brief tenure at Peloton, where she served as CMO since January. The connected fitness marketer has faced challenges in regaining momentum after experiencing a surge in demand during the initial stages of the pandemic, when gyms were closed due to public health considerations. In pursuit of new growth, the brand has overhauled its marketing strategy multiple times and undergone changes in its executive team.
Berland is acknowledged for her role in the press release, where she contributed to the launch of a reinvigorated brand identity for Peloton and the engagement of the company's member community earlier this year. Despite Peloton surpassing Wall Street's revenue estimates in the most recent financial quarter, the company reported larger than anticipated losses and a pessimistic outlook for the crucial holiday season.
Before joining Peloton, Berland spent over six years leading marketing efforts at the social media platform, formerly known as Twitter. Throughout most of her tenure, she simultaneously served as chief people officer, a period accompanied by a mass departure of long-time employees following Elon Musk's takeover and aggressive cost-cutting measures. Prior to her career at Twitter, Berland worked at American Express for more than a decade, playing a significant role in the digital transformation of the financial services marketer.
Verizon faces intense competition in the wireless carrier market, contending with both major rivals like AT&T and T-Mobile, as well as more budget-friendly alternatives like Mint Mobile. To remain competitive, Verizon has introduced a value-focused brand called Visible. Recently, the company made headlines by announcing a partnership with Netflix and Max to offer ad-supported versions of their streaming services as part of their My Plan offering for just $10 per month. Despite these efforts, Verizon experienced a 2.6% decline in revenue, totaling $33.3 billion in Q3.
