Verizon (VZ) announces senior management changes

Verizon (NYSE: VZ) announced today a number of executive management changes designed to set a path for the company’s future growth plans.

Sowmyanarayan Sampath, currently leading Verizon Business Group, has been appointed to Executive Vice President and CEO of Verizon Consumer Group (VCG). Kyle Malady, currently leading Global Networks & Technology, has been appointed Executive Vice President and CEO of Verizon Business Group (VBG). Succeeding Malady, Joe Russo, currently Senior Vice President and Chief Network Officer, was named Executive Vice President and President of Global Networks and Technology.

“These appointments will develop and grow the next generation of our leadership teams as we unleash Verizon’s full potential moving forward,” said Verizon Chairman and CEO Hans Vestberg. “This is a significant step in the transformation we started four years ago to be customers' choice for the next generation of communications technology. We’re elevating our performance by building on our network strength, increasing accountability, and further strengthening Verizon’s competitive capabilities.”

“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 long-time Verizon veterans. I am confident these leaders will best position Verizon for the new era of customer growth,” said Vestberg. “These transitions will begin immediately, and all will report directly to me.”

Additionally, Matt Ellis, who has served as the Executive Vice President and Chief Financial Officer of Verizon since November 2016, will be leaving 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 with his strong leadership and financial aptitude. He’s been an influential member of my executive leadership team and a trusted partner. I wish him all the best for the future as he now moves on to new opportunities,” said Vestberg.

Senior Vice President & Controller of Verizon Tony Skiadas has been appointed Chief Financial Officer.

By Michael Elkins | [email protected]

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