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MarketScreener Homepage  >  Equities  >  Nyse  >  Verizon Communications    VZ

VERIZON COMMUNICATIONS (VZ)
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Verizon Communications : Top Media Executive Marni Walden to Leave

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10/04/2017 | 10:45pm CEST
By Ryan Knutson 

Verizon Communications Inc. said its top media executive, Marni Walden, will be switching to an advisory role at the end of the year and leaving the company in early 2018.

Ms. Walden oversees the company's media and digital business, including its Yahoo and AOL properties, a role she took over in 2015. The 50-year-old was considered a potential successor to CEO Lowell McAdam.

Her departure comes after it became clear to Ms. Walden that she was unlikely to win the CEO job, according to one person familiar with the matter.

"Marni helped build our wireless business, starting as a sales representative in a store and grew into an inspirational leader and role model for so many at Verizon," Mr. McAdam said in a statement. She "will leave us in a strong competitive position."

One of her lieutenants, Tim Armstrong, who is CEO of the division that oversees Yahoo and AOL, will now report directly to Mr. McAdam. Her other responsibility of overseeing Verizon's telematics business will be handed to John Stratton, who as president of global operations oversees the wireless business.

Write to Ryan Knutson at ryan.knutson@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ALTABA INC -0.50% 67.59 Delayed Quote.-2.75%
VERIZON COMMUNICATIONS -1.62% 53.54 Delayed Quote.2.82%
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Financials ($)
Sales 2018 131 B
EBIT 2018 29 497 M
Net income 2018 18 200 M
Debt 2018 110 B
Yield 2018 4,39%
P/E ratio 2018 12,31
P/E ratio 2019 11,42
EV / Sales 2018 2,56x
EV / Sales 2019 2,47x
Capitalization 225 B
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 56,3 $
Spread / Average Target 3,5%
EPS Revisions
Managers
NameTitle
Hans Erik Vestberg Chief Executive Officer & Director
Lowell C. McAdam Chairman
Matthew D. Ellis Chief Financial Officer & Executive Vice President
Clarence Otis Independent Director
Richard L. Carrión Independent Director
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