Management changes at Verizon

A senior management reshuffle at Verizon Communications is designed to set a path for future growth plans, the company says.

“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.”

As part of these changes, Vestberg has appointed Sowmyanarayan Sampath, currently leading Verizon Business Group, to Executive Vice President and CEO of Verizon Consumer Group (VCG). Sampath’s extensive experience in the telecom industry and distinct tenure at Verizon include transformative work on VCG’s operating model and empowering its customer-facing organisation.

Kyle Malady, currently leading Global Networks & Technology, has been appointed Executive Vice President and CEO of Verizon Business Group (VBG). His experience and deep technology business acumen will be critical to advancing Verizon Business as the partner of choice for customers’ digital transformation efforts.

Succeeding Malady, Joe Russo, currently Senior Vice President and Chief Network Officer, was named Executive Vice President and President of Global Networks and Technology. Russo brings extensive, hands-on knowledge and a deep understanding of Verizon’s global networks to his new role.

“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,” Vestberg said.

“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 1 May.

“I appreciate the contributions Matt has made to Verizon in his 10 years with the company, shaping our organisation 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,” Vestberg said.

Senior Vice President & Controller of Verizon Tony Skiadas has been appointed Chief Financial Officer. Skiadas has led multiple teams within the Finance organisation over his lengthy career at Verizon and will ensure the Finance organisation remains focused on continuing with cost reduction and efficiency efforts while the company conducts a search for a successor. Mary-Lee Stillwell, Vice President of Accounting and External Reporting, has been appointed Senior Vice President & Controller.

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