Diego Scotti is the Exec. 41,337 salaries (for 6,393 job titles) Updated 5/30/2023. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, 35 Verizon employees have shared their salaries on Glassdoor. This approach means full alignment and trust throughout the C-suite and also support from the very top, which Im lucky to have from our CEO, Hans Vestberg. Diego has a proven track record of delivering results by growing market share and brand loyalty throughout his career, said Lowell McAdam, chairman and CEO, Verizon. You have 0 All Access articles remaining this month. Verizon Chief Marketing Officer Diego Scotti is stepping down after eight years in the role, according to numerous reports. Over the past year, weve been putting a lot of thought into how we can increase our impact. Diego Scotti is Executive Vice President and Chief Marketing Officer for Verizon, overseeing all aspects of Verizon's marketing, experience design, and brand communications across business units and responsible for building awareness and driving customer advocacy for the brand. His status as a high-profile marketer is among the reasons that his recently announced departure as Verizon CMO has the industry talkingnot just about what is next for Scotti, but what marketing direction the telecommunications giant will take in the coming months. These CMOs are building inclusive, high-performing organizations. Mr. Scotti was well-known for his focus on diversity and inclusion. - 1 day 13 hours ago. April 7, 2021. 2023 Leaders Group. Related: Why Verizon broke its Super Bowl ad streak. With all of the possibilities that come with the speeds, low latency and high bandwidth that 5G unlocks, Verizon is in a unique position to drive both innovation and trust for our key stakeholders. Above all else, Verizon believes in the power of technology for good. In its most recent first quarter, Verizon reported losing 127,000 wireless phone subscribers. Since then Diego has changed 3 companies and 3 roles. I am thrilled to be joining the industry leader, and I look forward to collaborating with the team to keep winning in the marketplace, said Scotti. In this newly created chief marketing officer role, Scotti will oversee all aspects of Verizons global brand management including advertising, consumer insights, digital marketing, creative development, marketing effectiveness, media and sponsorships, social responsibility, and employee communications. He is a member of the executive committee of . VP & Chief Marketing Officer of Verizon Communications Inc since . For example, this person said last year Verizon consolidated all of its media under Rafael Rivero, senior VP of media and marketing effectiveness, who has been leading a lot of the companys cost-cutting initiatives within its marketing department. Over the past year, Verizon shares traded at between $34.55-52.18. Verizon in March said its finance chief was leaving and named a new head of its consumer business, which had been struggling to hang on to its core subscriber base in competition from rivals AT&T and T-Mobile. What advice do you offer young people interested in building a career in the industry? Were very thoughtful about how we story tell around and humanize the network, and it isnt always the easiest job, but what does make our job easy is talking about the superiority of the network. By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. . While Verizon ended 2022 with its best consumer numbers in seven years, it did report wireless customer losses related to its 3G network shutdown during Q1 2023. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Last year, Verizon released the first-year results of itsResponsible Marketing Action Plan, which Scotti led, which included the tracking and reporting of Verizons diversity and inclusion data within its various marketing teams and ad spend. The numerous staffing changes are suspected to be the result of Verizons struggles around maintaining its consumer subscriber base as competition with AT&T and T-Mobile US continues to heat up around differentiated services in a 5G era. In other changes, Chief Communications Officer Jim Gerace, who previously reported to Mr. Scotti, will now report directly to Mr. Vestberg. 87990cbe856818d5eddac44c7b1cdeb8, Continue reading your article witha WSJ subscription, Already a subscriber? Upgrade your subscription to get all the news you need: Adding SBJ weekly content will give you the comprehensive view of sports business with: Adding SBJ daily content will give you the comprehensive view of sports business with: Sources said Scotti has been under pressure for some time to cut the sponsorship budget. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Itwas the first time the company sat out of the Big Game in five years. One thing is certain: Scottis exit signals big changes coming for the telecommunications giant as it deals with market share losses and pressure to spend marketing dollars more efficiently, according to multiple people familiar with the company. The industry, marketplace and workforce all change at such a rapid speed that it requires companies to continuously develop new solutions to stay relevant to what employees need. Salary in 2023. Verizons large bundle of sports assets has long been handled by IPGs Momentum agency. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. Industry sources said Scotti has been under pressure for some time to cut sponsorship budget, and that even more recently Verizons various CEOs were pushing for a more decentralized marketing structure. We have estimated Diego Scotti's net worth , money, salary, income, and assets. Verizon Verizon is the latest marketer to announce steps to make its advertising more diverse. Verizon CEO-Chairman Hans Vestberg implemented a new cost-cutting initiative last year that is expected to save the company $2 billion to $3 billion annually by 2025. The most recent stock trade was executed by Joseph J. Russo on 23 May 2023, trading 7,585 units of VZ stock currently worth $275,336. The latest personnel hires and promotions, plus exclusive ratings and research from the sports industry. Diego Scotti has been the chief marketing officer (CMO) of . 49 print issues delivered to your home or office. Click below to sign in. Verizon is rolling out a new set of set of goals around how it approaches diversity, equity and inclusion (DEI) in every aspect of its marketing operations. Prior to J.Crew he oversaw marketing for several print and digital media brands at Conde Nast and was previously the head of global advertising and brand management at American Express. Already a subscriber? They were all nominated by the CEOs of their agencies for their leadership potential and the goal is to give them new challenges and experiences so they can get to the next level in their careers, and so that we retain top talent on the Verizon account teams. He also previously oversawbrands at CondNast and was head of global advertising and brand management at American Express. Additionally, with the massive shift to digital over the past year, our commitment to use the power of technology for good has become even more relevant and the transformation were driving with 5G has become even more critical. Under Scotti, Verizon ran Super Bowl commercials such as the McCann-created 2022 spotthat starred Jim Carrey reprising his character from The Cable Guy.. Activate your account. Verizon is the largest spender in U.S. sports media and among the biggest in sports sponsorship. Some argue that Verizons next CMO will need to be far more data-driven, a departure from Scotti, who is best known for big brand campaigns such as overseeing star-studded Super Bowl commercials from 2018 to 2022. At the helm of one of the countrys largest advertisers, Scotti has taken bold action to impact DEI within the marketing industry at large and has become a known activist for change. Write by: . . The information shown here is a reporting of information included in the company's proxy statement. SBJ I Factor presented by Allied Sports features an interview with Danita Johnson, president of business operations for D.C. United and a member of Sports Business Journals Forty Under 40 class of 2023. The former R/GA executive said Verizon also doesnt need the type of flashy advertisements for which Scotti advocated. Verizon Communications Inc. was formed on June 30, 2000 and is celebrating its 20th year as one of the worlds leading providers of technology, communications, information and entertainment products and services. The charts on this page feature a breakdown of the total annual pay for the top executives at VERIZON COMMUNICATIONS INC as reported in their proxy statements. Do you feel that this is a responsibility of leading companies and will you discuss Verizons commitment to corporate responsibility? To do this right, you need a focused brand purpose to guide you, grounded in actions, not words. Scotti will be helping the Verizon team with the transition over the next few weeks,Vestberg wrote. By using this site you consent to the use of cookies. Our editorial transparency tool uses blockchain technology to permanently log all changes made to official releases after publication. As part of its plan to win back subscribers, the company recently announced it would cut the costs and number of its wireless plans from six to two to make its offers less confusing for consumers. Scotti will lead marketing efforts for all of Verizons wireless and wireline business units as the company continues to differentiate itself as the leader in a vibrantly competitive industry. As Ive said before, this is one of the most exciting and dynamic times weve ever seen in our industry. For its 2022 fiscal year, VERIZON COMMUNICATIONS INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Verizon's other agencies include WPP's Ogilvy, which won the company's B2B account in December of last year, along with Interpublic Group of Cos.' McCann. A native of Argentina, Scotti earned a Bachelor of Arts degree in advertising and marketing communications from the University of Management and Social Sciences in Buenos Aires. He oversees all aspects of Verizons marketing, experience design and brand communications across all business units. The new leader needs to have analytics at their heart.. How much do Verizon employees make? Description Read More Industry Telephony & Wireless Telecommunications Discover more about Verizon Diego Scotti Work Experience and Education According to ZoomInfo records, Diego Scotti's professional experience began in 1999. Sign in or Sign up with Google Sign up with Facebook All rights reserved. For the first quarter, Verizon reported a 1.9% dip in its consolidated operating revenue from the year-earlier period, which the company blamed on "lower equipment revenue and continued declines in business wireline services.". Regardless of how agencies viewed him, the former R/GA executive said Scotti was the connective tissue keeping shops including R/GA and McCann on Verizons roster. Find Verizon Salaries by Job Title. 3M FIRES EXECUTIVE FOR 'INAPPROPRIATE PERSONAL CONDUCT'. This person said that was the reason Verizon didnt run an ad in the Super Bowl this year; Scotti wanted to air a Big Game ad, but Verizon leadership wouldnt approve the ideas or budget. In his past career he was Chief Marketing Officer . ended 2022 with its best consumer numbers, Cox to buy out remaining stake in Unite Private Networks, New Zealand telcos get 3.5 GHz spectrum to boost 5G coverage, Verizon extends partnership with USPS to include cloud, AI support, How should tech companies support their black workforce? He would constantly move deadlines and call people out for not meeting them. We created AdDisruptors, a six-month program for standout talent at our agencies with 5-8 years of experience. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. While still under Scottis direction, an agency team led by Ogilvy New York created its most recent 30-second ad, Its Your Verizon, for the launch of the companys new flexible plan, called My Plan.. February 27, 2023 new bill passed in nj for inmates 2022 No Comments . In the memo, Vestbergsaid that Scotti had announced his plans to depart from the telecommunications giant to focus on building a new chapter in his career and explore new challenges.. As a CMO, being not only engaged, but helping to drive business strategy, is crucial to success of not only the marketing team, but the company. You may unsubscribe at any time. He also worked at Conde Nast where he led marketing at Vogue and held several other titles. All media planning and buying was organized under Publicis, including for Tracfone, which was previously handled by IPG's Mediahub. Coronavirus Tips Working and Protection, For its 2022 fiscal year, VERIZON COMMUNICATIONS INC, listed the following executives on its annual proxy statement to the SEC. Diego Scotti Is the CMO of Verizon. 2019 Select Other Years For its 2022 fiscal year, VERIZON COMMUNICATIONS INC, listed the following executives on its annual proxy statement to the SEC Equity Cash Compensation Other Fiscal Year Ended in 2022 Enter an executive or company name The development comes just a few months after several other executive shakeups at the company, including the exit of itsfinance chief and the naming of new head of its consumer business. Inside MLB's big court win; Bay Area's NWSL team takes shape; The FL Panthers' big chance to build its business and CA eyes game-changer in college sport. 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