Verizon Announces Business Restructuring as it Preps for a 5G Future
Just a few months into the job, Verizon’s new chief Hans Vestberg has wasted little time putting his stamp on the telecom company. In a press release on Monday, Verizon announced that it plans to overhaul the structure of its customer-facing consumer, business, and media operating groups in an effort to “optimize growth opportunities” as it prepares for the rollout of 5G. As such, Ronan Dunne, the current executive vice president of Verizon Wireless, has been tapped to lead the newly restructured business. All changes will go into effect on January 1, 2019.
“This new structure reflects a clear strategy that starts with Verizon customers,” Vestberg said in a statement. “We’re building on our network transformation efforts and the Intelligent Edge architecture to deliver new customer experiences and optimize 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.”
The announcement comes as Dunne, according to Investor’s Business Daily, reportedly missed out on becoming the new chief executive of the BT Group, a role he was considered a top candidate for. His new role at Verizon will expand his oversight from just the wireless business to the company’s wireless and landline FiOS-branded broadband and TV business—a move that makes sense as 5G networking technology will see all of those businesses begin to more closely mingle with and impact one another.