Verizon has announced a new operating structure which will focus on three areas, namely, Media and Telematics, Network and Technology, and Customer and Product Operations. The new structure will go into effect from 3 April. As part of the change, Verizon has appointed Hans Vestberg, the former CEO of Ericsson, as the executive VP for the new Network and Technology team. Marni Walden will become the executive VP for Media and Telematics, reporting also to McAdam, while John Stratton will be the new executive VP for Customer and Product Operations.
Media and Telematics will focus on integrating, scaling and growing Verizon’s portfolio of new businesses in digital media and telematics. Walden will be responsible for quickly scaling these businesses into major contributors to Verizon’s future growth. Verizon said it believes the combination of AOL with the assets of Yahoo will give Verizon more than 1.3 billion digital media users and generate USD 7 billion in revenue.
Walden’s team will be responsible for integrating these businesses and building brand and market share in this growing market. Walden will also continue to lead Verizon’s integration and expansion of its telematics (connected car and fleet management) portfolio.
Vestberg will lead a US-based team responsible for further developing the architecture for Verizon’s fiber-centric networks. The company said the new unit will focus on delivering seamless network experiences for customers, whether on Wi-Fi, fibre, 4G, 5G or future technologies.
The Customer and Product Operations team will focus on operating and growing Verizon’s established businesses, which include: Verizon Wireless, Verizon Enterprise Solutions, Verizon Partner Solutions, Verizon Consumer Markets and Verizon Business Markets. These businesses generate more than USD 120 billion in annual revenue and serve more than 120 million customers. Stratton will focus on growing these core businesses, while accelerating Verizon’s shift toward a digital-first model. Stratton will also lead operations and sales for the Internet of Things products and services, including smart communities
