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The new Managing Director of Verizon Communications Inc. is restructuring the carrier's lines of business, including its massive wireless business, in one of the first major organizational changes under his leadership.
Hans Vestberg is reorganizing the divisions of the company according to the types of consumers served, rather than the type of service provided, announced Monday the company.
Ronan Dunne, 55, currently president of Verizon Wireless – the company's largest unit – will now lead the new Verizon consumer group. This new division includes wireless and wireline services for consumers.
Tami Erwin, 54, currently executive vice president of wireless operations, will lead a new business-focused unit. This division, called the Verizon Business Group, will include wireless and wireline services for businesses, including small and medium-sized businesses and government procurement. She will also oversee Verizon's telematics activities.
A new unit, called Global Network and Technology, will be headed by Kyle Malady, 51, who is now director of technology. Guru Gowrappan, the head of Verizon's Digital Advertising and Media Unit, will lead the newly formed media group hosting Oath.
Mr. Vestburg, who was previously Managing Director of Ericsson AB, became Managing Director on August 1, succeeding Lowell McAdam.
He led a campaign to reduce costs and made the creation of a faster 5G network the center of the carrier's strategy.
The changes will come into effect in January and Verizon will change the way it publishes its financial results in the second quarter.
Write to Sarah Krouse at [email protected]
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