Carrier giant Verizon Communications Inc (VZ) announced plans to reorganize its business segments to just three — Consumer, Business and Verizon Media Group/Oath — to focus better on its customers.
This is the first bold move by under Chief Executive Officer Hans Vestberg, who was named to the post on Aug. 1, who is strafing away from the rigid difference between wireless and wireline offerings, and adding Fios internet and video products.
Verizon Media Group/Oath segment includes media, advertising and technology, and be led by Oath CEO Guru Gowrappan, which brings Yahoo and AOL under him.
Verizon Consumer Group includes the consumer segment of wireless and wireline businesses, and will be led by Verizon Wireless president Ronan Dunne.
Verizon Business Group includes products and services sold to businesses/government, and will be headed by Tami Erwin — the current executive VP of wireless operations.
The new units will come to effect on the 1st of January, 2019, Verizon said it plans to report its results under the new structure from the second quarter of 2019.
Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips.
Most Popular
PG Earnings: Procter & Gamble Q3 profit climbs, beats estimates
Consumer goods behemoth The Procter & Gamble Company (NYSE: PG) announced financial results for the third quarter of 2024, reporting a double-digit growth in net profit. Sales rose modestly. Core
AXP Earnings: All you need to know about American Express’ Q1 2024 earnings results
American Express Company (NYSE: AXP) reported its first quarter 2024 earnings results today. Consolidated total revenues, net of interest expense, increased 11% year-over-year to $15.8 billion, driven mainly by higher
Netflix (NFLX) Q1 2024 profit tops expectations; adds 9.3Mln subscribers
Streaming giant Netflix, Inc. (NASDAQ: NFLX) Thursday reported a sharp increase in net profit for the first quarter of 2024. Revenues were up 15% year-over-year. Both numbers exceeded Wall Street's