Verizon Communications has announced a new operating structure effective 1 January 2019 based on three customer-facing areas: Consumer, Business and Verizon Media Group/Oath, aiming to ‘deliver new best-in-class customer experiences and to ensure first-to-market leadership in the 5G era’. These groups will be supported by a network and IT organisation, and corporate-wide staff functions. Verizon expects to transition to financial reporting under the new structure during Q2 2019.
Verizon Consumer Group will include wireless (retail and wholesale) and wireline (retail) businesses.
Verizon Business Group will include wireless/wireline SME, enterprise and government businesses, as well as wireline wholesale and Verizon Connect (telematics).
Verizon Media Group/Oath covers media, advertising and related technology, providing access to media/entertainment, gaming, news, commerce and other services.
CEO Hans Vestberg said: ‘We’re building on our network transformation efforts and the Intelligent Edge architecture to deliver new customer experiences and optimise the growth opportunities we see as leaders in the 5G era. We’re focused on how our technology can benefit customers’ lives and society at large.’