Verizon EVP Marni Walden plans to leave the company early next year, stepping aside from two of the company’s most strategic business units. Walden was in charge of Oath, the media company Verizon formed to encompass Yahoo and AOL. In addition, she oversaw the company’s telematics unit, the largest part of Verizon’s billion-dollar internet of things business. She also headed up the company’s strategy development and planning group.
Walden has “spearheaded Verizon’s entry into global digital media and telematics,” said Verizon CEO Lowell McAdam. Walden will continue to report to McAdam until her departure next February. At the beginning of 2018 she will move into a strategic advisor role until her February departure.
Starting in 2018, Oath CEO Tim Armstrong will report directly to McAdam. Verizon’s telematics unit will report to John Stratton, EVP and president of global operations. Stratton oversees Verizon’s established businesses, including Verizon Wireless, Verizon Enterprise Solutions, Verizon Partner Solutions, Verizon Consumer Markets and Verizon Business Markets.
Walden has spent most of her career at Verizon, starting out as an in-store sales representative. Her previous positions at the company include chief operating officer, EVP and president of product and new business innovation.
Walden is reportedly leaving to pursue other opportunities and interests. McAdam noted that she leaves her business units in a “strong competitive position.”
Walden’s business units completed several major acquisitions under her watch, including Fleetmatics, Telogis, AOL, and of course Yahoo. Yahoo said this week that a 2013 data breach exposed all 3 billion of its accounts. Previously the company had said that only some accounts were impacted.