To better serve rapidly changing customer needs and accelerate the deployment of next-generation technology, Verizon recently announced a new operating structure focused on three areas: Media and Telematics, Network and Technology, and Customer and Product Operations.
As part of this structure, effective April 3, the company has hired Hans Vestberg, former CEO of Ericsson, as executive vice president for Verizon’s new Network and Technology team. Vestberg will report to Verizon Chairman and CEO Lowell McAdam and will lead an organization responsible for further developing the architecture of Verizon’s fiber-centric networks. He will initially be based in Sweden, and is expected to join the US-based team later this spring.
Continuing to report to McAdam will be Marni Walden as executive vice president for Media and Telematics, and John Stratton as executive vice president for Customer and Product Operations. Media and Telematics 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.
The combination of AOL with the assets of Yahoo will give Verizon more than 1.3 billion digital media users and generate $7 billion in revenue. Walden’s team will be responsible for integrating these businesses and building brand and market share in this growing market. In addition, Walden will continue to lead Verizon’s integration and expansion of its telematics (connected car and fleet management) portfolio.
Lowell McAdam, Chairman and CEO, Verizon
This new structure is designed to accelerate our progress toward delivering the promise of the digital world to customers. It will give us greater organizational agility to continue to lead the market with our wireless and fiber services, scale and expand our media and telematics businesses, and maintain the leadership in network reliability and new technology that is a Verizon trademark.
