Canadian Manufacturing

Verizon reorganizes structure under new CEO to prep for 5G

Verizon CEO Hans Vestberg said the company will be organized into four groups as a means to optimize opportunities


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PHOTO: Hans Vestberg, CEO of Verizon Communications

NEW YORK – Verizon is undergoing a significant restructuring under new CEO Hans Vestberg, including its dominant wireless division, as it prepares to roll out its 5G technology.

Three months after Vestberg took control, Verizon said Monday that the New York company will be organized into four groups at the start of the year: Consumer, Business, Media, and Global Network & Technology.

Verizon Consumer Group will include the company’s wireless and wireline businesses for consumers and will be led by Ronan Dunne.

The remaining units include The Verizon Business Group and the Global Network & Technology organization.

Vestberg said in a prepared statement Monday that Verizon seeks to optimize opportunities in the new 5G era though its restructuring.

 


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