Verizon Communications Inc. announced a number of executive management changes designed to set a path for the company's future growth plans. As part of these changes, Vestberg has appointed Sowmyanarayan Sampath, currently leading Verizon Business Group, to Executive Vice President and CEO of Verizon Consumer Group (VCG). Sampath's extensive experience in the telecom industry and distinct tenure at Verizon include transformative work on VCG's operating model and empowering its customer-facing organization.

Sampath is the ideal leader for VCG and will relentlessly focus on growing the business in a customer first, agile, financially disciplined way to increase loyalty and welcome new customers across the portfolio. Kyle Malady, currently leading Global Networks & Technology, has been appointed Executive Vice President and CEO of Verizon Business Group (VBG). His experience and deep technology business acumen will be critical to advancing Verizon Business as the partner of choice for customers' digital transformation efforts.

In his new role, Malady will continue VBG's wireline efficiency programs and build on its strong wireless growth momentum. Succeeding Malady, Joe Russo, currently Senior Vice President and Chief Network Officer, was named Executive Vice President and President of Global Networks and Technology. Russo brings extensive, hands-on knowledge and a deep understanding of Verizon's global networks to his new role.

He will focus on delivering 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. Additionally, Matt Ellis, who has served as the Executive Vice President and Chief Financial Officer of Verizon since November 2016, will be leaving the company to pursue other interests, effective May 1. Senior Vice President & Controller of Verizon Tony Skiadas has been appointed Chief Financial Officer. Skiadas has led multiple teams within the Finance organization over his lengthy career at Verizon and will ensure the Finance organization remains laser focused on continuing with cost reduction and efficiency efforts while the company conducts a search for a successor.

Mary-Lee Stillwell, Vice President of Accounting and External Reporting, has been appointed Senior Vice President & Controller.