Verizon announces senior management changes

NEW YORK, NY- Today, Verizon Communications (NYSE, Nasdaq:VZ) announced a number of leadership changes aimed at charting the course for the company’s future growth plans.

“These appointments will grow and develop the next generation of our leadership teams as we unlock Verizon’s full potential in the future,” said Verizon Chairman and CEO Hans Vestberg. This is an important step in the transformation we began four years ago to be customers’ choice for the next generation of communications technology. We are improving our performance by building on the strength of our network, increasing accountability and further strengthening Verizon’s competitive capabilities. »

As part of the changes, Vestberg has appointed Sowmyanarayan Sampath, currently head of Verizon Business Group, as executive vice president and CEO of Verizon Consumer Group (VCG). Sampath’s extensive experience in the telecommunications industry and his distinct tenure at Verizon include transformative work on VCG’s operating model and empowering its customer-facing organization. Sampath is the ideal leader for VCG and will be relentlessly focused on growing the business in an agile and financially disciplined, customer-focused manner to increase loyalty and welcome new customers overall. of the portfolio.

Kyle Malady, currently head of Global Networks & Technology, has been named executive vice president and CEO of Verizon Business Group (VBG). His experience and technology business acumen will be essential in advancing Verizon Business as the partner of choice for customers’ digital transformation efforts. In his new role, Malady will continue VBG’s wireline efficiency programs and build on its strong wireless growth momentum.

Succeeding Malady, Joe Russo, currently Senior Vice President and Chief Network Officer, has been named Executive Vice President and President of Global Networks and Technology. Russo brings deep, hands-on knowledge and an in-depth understanding of Verizon’s global networks to his new role. It will focus on delivering an exceptional network experience to customers by continuing to improve the industry’s most reliable network and industry’s most aggressive spectrum deployment with C-band, optimizing 5G and improving efficiency. of the network.

“One of our strengths at Verizon is the depth of our leadership and the breadth of skills they bring to the table. Sampath, Kyle and Joe are longtime Verizon veterans. best Verizon for the new era of customer growth,” Vestberg said. “These transitions will begin immediately and all will report directly to me.”

Additionally, Matt Ellis, who served as Verizon’s executive vice president and chief financial officer since November 2016, will leave the company to pursue other interests, effective May 1. “I appreciate the contributions Matt has made to Verizon in his 10 years with the company, shaping our organization through his strong leadership and financial abilities. He has been an influential member of my leadership team and a trusted partner. I wish him all the best for the future as he now looks to new opportunities,” said Vestberg.

Tony Skiadas, senior vice president and controller of Verizon, has been named chief financial officer. Skiadas has led multiple teams within the finance organization during his long career at Verizon and will ensure the finance organization remains focused on continuing cost reduction and efficiency efforts as the company seeks a successor. Mary-Lee Stillwell, vice president of accounting and external reporting, has been named senior vice president and controller.

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