Verizon appointed Hans Vestberg, former CEO of Ericsson, as executive vice president for its new Network and Technology team, where he will be responsible for further developing the architecture of Verizon’s fiber-centric networks. Vestberg will report to Verizon Chairman and CEO Lowell McAdam.
Verizon is adopting a new operating structure focused on three areas: Media and Telematics, Network and Technology, and Customer and Product Operations.
Marni Walden will serve as executive vice president for Media and Telematics, which will focus on integrating, scaling and growing Verizon’s portfolio of new businesses in digital media and telematics. The company said the combination of AOL with the assets of Yahoo will give it 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, including assets from Hughes Telematics, Fleetmatics and Telogis.
John Stratton will be executive vice president for Customer and Product Operations, which will focus on operating and growing Verizon’s established businesses, including Verizon Wireless, Verizon Enterprise Solutions, Verizon Partner Solutions, Verizon Consumer Markets and Verizon Business Markets. These businesses generate more than $120 billion in annual revenue and serve more than 120 million customers.
Lowell McAdam said, “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.”
