Verizon announces changes to Consumer Group Leadership

Rhea-AI Summary

Verizon Communications (VZ) announced the resignation of Manon Brouillette, CEO of Verizon Consumer Group, effective December 5, 2022. Brouillette had led the group since January 2022, which was established to enhance customer-focused services. Verizon's chairman and CEO, Hans Vestberg, will now oversee the Consumer Group, emphasizing the need for alignment between network products and operational performance. In 2021, Verizon reported revenues of $133.6 billion, reflecting its position as a leading provider of technology and communication services globally.

Positive

• Hans Vestberg will lead the Consumer Group, potentially enhancing operational efficiency.
• Verizon generated $133.6 billion in revenues in 2021, showcasing strong financial performance.

Negative

• Manon Brouillette's departure may create transitional uncertainties in leadership and strategy.

NEW YORK, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced that Manon Brouillette, CEO of Verizon Consumer Group, has stepped down from the role she has held since January 2022.

Verizon Consumer Group was formed in January 2019 in an organizational transformation designed along customer-facing functions instead of its traditional technology-silo structure. Along with Verizon Business Group, Verizon’s Consumer Group is delivering new, best-in-class customer experiences on Verizon’s leading 4G, 5G and fiber optic networks.

Verizon Chairman and CEO Hans Vestberg, who has assumed responsibility for leading the Consumer Group in addition to his day-to-day responsibilities said, “We thank Manon for her service to our customers and her contribution to Verizon Consumer Group. My immediate focus for the Consumer Group will be on driving a closer consistency between the top quality network product we’re bringing to market and the operational results we’re producing.”

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $133.6 billion in 2021. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Donna Lyden
donna.lyden@verizon.com
908-872-0278

FAQ

Why did Manon Brouillette step down as CEO of Verizon Consumer Group?

Manon Brouillette stepped down from her role on December 5, 2022, but the specific reasons for her departure were not disclosed in the press release.

Who is leading the Verizon Consumer Group after Brouillette's departure?

Hans Vestberg, Verizon's chairman and CEO, will lead the Verizon Consumer Group following Brouillette's resignation.

What was Verizon's revenue in 2021?

Verizon generated revenues of $133.6 billion in 2021.

When was the Verizon Consumer Group formed?

The Verizon Consumer Group was formed in January 2019 as part of an organizational transformation.