In a series of executive staffing moves and additions designed to position the company to better serve rapidly changing customer needs and accelerate the deployment of next-generation technology, Verizon has announced a new operating structure focused on three areas: Media and Telematics, Network and Technology, and Customer and Product Operations.
As part of this structure, effective April 3, the company has hired Hans Vestberg (News - Alert), former CEO of Ericsson, as executive vice president for Verizon’s new Network and Technology team. Vestberg will report to Verizon Chairman and CEO Lowell McAdam (News - Alert) and will lead an organization responsible for further developing the architecture of Verizon's fiber-centric networks. He will initially be based in Sweden, and is expected to join the U.S.-based team later in 2017. Continuing to report to McAdam will be Marni Walden as executive vice president for Media and Telematics, and John Stratton (News - Alert) as executive vice president for Customer and Product Operations.
“This new structure is designed to accelerate our progress toward delivering the promise of the digital world to customers,” McAdam said. “It will give us greater organizational agility to continue to lead the market with our wireless and fiber services, scale and expand our media and telematics businesses, and maintain the leadership in network reliability and new technology that is a Verizon trademark.”
Media and Telematics will focus on integrating, scaling and growing Verizon's portfolio of new businesses in digital media and telematics. Walden will be responsible for quickly scaling these businesses into major contributors to Verizon's future growth. Vestberg, who served for six years as CEO of Ericsson (News - Alert), will lead a U.S.-based team responsible for further developing the architecture for Verizon's fiber-centric networks. Network and Technology will focus on delivering seamless network experiences for customers, whether on Wi-Fi, fiber, 4G, 5G or future technologies.
The Customer and Product Operations team will focus on operating and growing Verizon's established businesses, which include: Verizon Wireless (News - Alert), Verizon Enterprise Solutions, Verizon Partner Solutions, Verizon Consumer Markets and Verizon Business Markets. These businesses generate more than $120 billion in annual revenue and serve more than 120 million customers.
Stratton will focus on growing these core businesses, while accelerating Verizon's shift toward a digital-first model. Stratton will also lead operations and sales for the Internet of Things products and services, including smart communities.