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ALIBABA GROUP HOLDING

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Verizon names new CEO for Oath

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09/12/2018 | 02:43pm EST
The logo for Verizon's Oath: is seen outside the company's offices in New York

(Reuters) - Verizon Communications Inc on Wednesday named K. Guru Gowrappan as the new chief executive officer of its media and advertising business, Oath, replacing Tim Armstrong.

Verizon last week said that Armstrong was in talks to leave Oath.

Gowrappan, currently Oath's chief operating officer, will be taking the top job on Oct. 1, Verizon said.

Gowrappan joined Oath from Alibaba Group early this year.

Armstrong came to Verizon in 2015 following its takeover of AOL and headed Oath, which was created last year after the No.1 U.S. telecom company acquired the core business of Yahoo and merged it with AOL.

Oath owns more than 50 brands, including HuffPost, TechCrunch and Tumblr, but has failed to make an impact in the space occupied by Facebook Inc and Alphabet Inc Google.

(Reporting by Vibhuti Sharma in Bengaluru; Editing by Maju Samuel)

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -1.32% 166.15 Delayed Quote.21.22%
ALPHABET -0.85% 1119.63 Delayed Quote.7.15%
FACEBOOK -0.88% 162.5 Delayed Quote.23.96%
VERIZON COMMUNICATIONS 2.09% 55.16 Delayed Quote.-1.89%
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Financials (CNY)
Sales 2019 371 B
EBIT 2019 99 448 M
Net income 2019 68 950 M
Finance 2019 161 B
Yield 2019 -
P/E ratio 2019 42,03
P/E ratio 2020 37,99
EV / Sales 2019 7,41x
EV / Sales 2020 5,30x
Capitalization 2 915 B
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Mean consensus BUY
Number of Analysts 51
Average target price 1 380  CNY
Spread / Average Target 23%
EPS Revisions
Managers
NameTitle
Yong Zhang Chief Executive Officer & Director
John Michael Evans President & Director
Yun Ma Executive Chairman
Wei Wu Chief Financial Officer
Jian Feng Zhang Chief Technology Officer
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