Verizon announces senior management changes
Verizon Communications announced significant executive changes to enhance future growth. Sowmyanarayan Sampath has been appointed CEO of Verizon Consumer Group, focusing on customer-centric growth. Kyle Malady will lead Verizon Business Group, aiming for digital transformation in the enterprise sector. Joe Russo has been named President of Global Networks and Technology to improve network efficiency. CFO Matt Ellis will leave by May 1, with Tony Skiadas stepping in as interim CFO. These leadership transitions are expected to leverage Verizon's strengths and aid in achieving higher customer loyalty and operational efficiency.
- Sowmyanarayan Sampath's appointment as CEO of Verizon Consumer Group may drive customer-first initiatives.
- Kyle Malady's leadership in Verizon Business Group is expected to advance digital transformation initiatives.
- Joe Russo's focus on network efficiency may enhance customer experience and operational reliability.
- The departure of CFO Matt Ellis may create concerns regarding financial continuity and strategic financial management.
Sowmyanarayan Sampath to lead Verizon Consumer Group
Kyle Malady to lead Verizon Business Group
Joe Russo named President of Global Networks and Technology
CFO Matt Ellis to leave Verizon in the second quarter
NEW YORK, March 03, 2023 (GLOBE NEWSWIRE) -- Today, Verizon Communications (NYSE, Nasdaq:VZ) announced a number of executive management changes designed to set a path for the company’s future growth plans.
“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 organization. Sampath is the ideal leader for VCG and will relentlessly focus on growing the business in a customer first, agile, financially disciplined way to increase loyalty and welcome new customers across the portfolio.
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. In his new role, Malady will continue VBG’s wireline efficiency programs and build on its strong wireless growth momentum.
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. He will focus on delivering an exceptional network experience for customers by continuing to improve the industry’s most reliable network and the industry’s most aggressive spectrum deployment with C-Band, optimizing 5G, and driving network efficiencies.
“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,” said Vestberg. “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 May 1. “I appreciate the contributions Matt has made to Verizon in his 10 years with the company, shaping our organization 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,” said Vestberg.
Senior Vice President & Controller of Verizon Tony Skiadas has been appointed Chief Financial Officer. Skiadas has led multiple teams within the Finance organization over his lengthy career at Verizon and will ensure the Finance organization remains laser 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.
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
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Media contact:
Rich Young
973-943-7209
richard.j.young@verizon.com
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