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Oath's management team is in a state of flux following the decision to integrate part of the company's business with Verizon and the expected departure of CEO Tim Armstrong, according to people close to the case.
The company's CEO, Bob Toohey, a long-time Armstrong confidant, left last week and his chief financial officer, Vanessa Wittman, and communications manager Natalie Ravitz plan to leave in the coming weeks.
Armstrong had sent a note to Oath staff extolling Toohey's achievements with the company.
"Toohey has come here every day with passion for the job, compassion for our staff and strategic mindset to prepare us for future success," Armstrong said, adding, "Bob has been a champion to help us recruit the next generation of When you see the level of talent that has joined us over the last year, you can see Bob's fingerprints on everything. "
The news of the integration was communicated to company staff in August at a retreat on Yahoo's campus in Sunnyvale, California. The leadership retreat included about 200 company employees from the Vice President level. Employees learned that business functions, including finance, human resources, communications, legal and computer technologies, would be transferred to Verizon.
Verizon has not confirmed reports indicating that an integration is in progress.
"We do not comment on speculation and have no announcements to make," Verizon said in a statement to Business Insider.
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