Verizon Communications shuffled some of its key executives today.
The company appointed Sowmyanarayan Sampath, currently leading Verizon Business Group, as executive vice president and CEO of Verizon Consumer Group (VCG). The company said that Sampath’s extensive telecom experience and “distinct tenure” at Verizon include “transformative work on VCG’s operating model and empowering its customer-facing organization.”
Kyle Malady, currently heading Global Networks & Technology, has been appointed as the new executive vice president and CEO of Verizon Business Group (VBG). According to the company, Malady’s experience and “deep technology business acumen” will be critical to “advancing Verizon Business as the partner of choice for customers’ digital transformation efforts.” He will continue VBG’s wireline efficiency programs in his new role.
Joe Russo, currently senior vice president and chief network officer, will move into Malady’s old position. Verizon cited Russo’s “extensive, hands-on knowledge and a deep understanding of Verizon’s global networks” and said Russo’s focus will be to deliver “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.”
Matt Ellis, who has served as the Executive Vice President and Chief Financial Officer for Verizon since November 2016, will be leaving the company to pursue other interests, effective May 1.
Verizon senior vice president and controller Tony Skiadas will take over the CFO role. Skiadas has led multiple teams within Verizon’s finance department during his lengthy career with the company, Verizon noted. Mary-Lee Stillwell, vice president of accounting and external reporting, will assume the senior vice president and controller role.
“These appointments will develop and grow the next generation of our leadership teams as we unleash Verizon’s full potential moving forward,” Hans Vestberg, Verizon chairman and CEO, said in a prepared statement. “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.”