Verizon realigns its organizational structure to optimize growth
Consumer, business and media operating groups with direct contact with customers must be supported by technology and enterprise-wide personnel organizations
NEW YORK, November 05, 2018 (GLOBE NEWSWIRE) – To deliver new, first-rate customer experiences and provide industry-leading market leadership in the 5G era, Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced a new operational structure focused on three customer business areas: Consumer, Business and Verizon Media Group / Oath.
These groups will be supported by a network and IT organization, as well as company-wide staff functions. The changes are effective January 1, 2019. Verizon plans to transition to financial reporting under the new structure in the second quarter of 2019.
“This new structure reflects a clear strategy that begins with Verizon customers,” said CEO Hans Vestberg. “We are leveraging our network transformation efforts and the Intelligent Edge architecture to deliver new customer experiences and maximize the growth opportunities we see as leaders in the 5G era. We focus on how our technology can benefit the lives of customers and society as a whole. “
Verizon Consumer Group will include the consumer segment for the Company’s wireless and wireline businesses, including wholesaling wireless services. It will be chaired by Ronan Dunne, currently Executive Vice President and President of Verizon Wireless.
Verizon Business Group will include wireless and wireline businesses, small and medium-sized businesses, and government enterprises, as well as wireline wholesale and Verizon Connect, the company’s telematics business. It will be led by Tami Erwin, currently Executive Vice President – Wireless Operations.
Verizon Media Group / Oath sits at the intersection of media, advertising, and technology, helping people access and receive media, entertainment, games, news, commerce, and other services. It will be led by Guru Gowrappan, who was previously announced as CEO of Oath.
Verizon’s Global Network & Technology organization, which will serve all of the company’s operations, will be led by Kyle Malady, currently Director of Network Operations and CTO.
There is no change of direction for personnel functions across the company.
New York-headquartered Verizon Communications Inc. (NYSE, Nasdaq: VZ) generated $ 126 billion in revenue in 2017. The company operates America’s most reliable wireless network and the country’s first all-fiber network, and provides integrated solutions to businesses around the world. Its Oath subsidiary reaches people around the world with a vibrant home of media and technology brands.
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