Tim Armstrong, Chief Executive Officer of Oath, leaves his position in October

According to Tim Verizon, Tim Armstrong, Verizon's media and advertising business director, Oath, will be stepping down in October.

Effective Oct. 1, Oath President and COO Guru Gowrappan will take over the role of CEO and report to Verizon Managing Director Hans Vestberg. Armstrong will remain in the office to help with the transition until the end of 2018.

"Guru has proven experience in business development globally," Vestberg said in a statement. "I am delighted that he will lead Oath into a new phase of exciting growth, building on the basics that Tim and his team have created by offering brands that our customers love."

Armstrong has been with Verizon since acquiring AOL in 2015. He helped to acquire Yahoo in 2017, which joined AOL to create Oath.

Verizon plans to integrate some of Oath's business across the company, business insiders told reporters last week. Oath hosted a leadership retreat in August with 200 employees at the Sunnyvale, Calif. Campus, and employees were informed that business functions – finance, human resources, communications, legal and informatics – would move to Verizon. will remain under oath.

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.

The integration between AOL and Yahoo has never been solid, according to former AOL employees.

And following the decision to incorporate part of the company's business into Verizon and the expected departure of CEO Tim Armstrong, Oath's management team is changing, according to people close to the company. folder.

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.