Marni Walden to Leave Verizon

Exec will move into strategic adviser role before exiting company in February 2018

Verizon Communications on Wednesday said Marni Walden, the company’s EVP and president of Global Media, announced her plans to leave the company next February.

Effective Dec. 31, Walden will shift to a strategic advisor role and continue to report to Verizon chair and CEO Lowell McAdam until her departure, the company said.

After that, Tim Armstrong, CEO of Oath, a unit of Verizon that combines its AOL with Yahoo businesses, will report to McAdam and continue to lead Oath. Verizon’s Telematics org, currently under Walden, will report to John Stratton, executive vice president and president of Global Operations.

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Verizon did not elaborate on Walden’s decision to leave. Reuters, citing a company official, reported that Walden, considered a potential successor to McAdam, is departing to pursue other opportunities.

Walden’s exit comes after a restructuring of Verizon’s operations and as it looks to integrate the recently acquired Yahoo business and makes progress with to develop and launch its own subscription OTT TV service.

Read more at multichannel.com.