Marni Walden, executive vice president and president of global media and telematics for Verizon, is leaving the company in February 2018.
Walden is leaving Verizon after helping push through the Yahoo acquisition and the formation of Oath, a division that merged Yahoo and AOL. She’ll officially leave her position at the end of the year and transition to an advisory role.
Oath CEO Tim Armstrong will now report directly to Verizon CEO Lowell McAdam, and the telematics division will report to John Stratton, executive vice president and president of Global Operations.
"Marni helped build our wireless business, starting as a sales representative in a store, and grew into an inspirational leader and role model for so many at Verizon," said McAdam in a statement. "She has most recently spearheaded Verizon's entry into global digital media and telematics and will leave us in a strong competitive position."
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News of Walden’s departure comes as the previously reported Yahoo hack that exposed users’ account information is ending up being much bigger in scope than previously revealed. On Tuesday, Yahoo gave an update to its investigation stating that contrary to the 1 billion accounts it said were initially affected, it now turns out that all 3 billion accounts were exposed.
“Verizon is committed to the highest standards of accountability and transparency, and we proactively work to ensure the safety and security of our users and networks in an evolving landscape of online threats,” said Verizon Chief Information Security Officer Chandra McMahon. “Our investment in Yahoo is allowing that team to continue to take significant steps to enhance their security, as well as benefit from Verizon’s experience and resources."
Recently, Walden had been helping to get Verizon’s planned streaming TV service off the ground. But the launch of that service has not happened yet, and reports have indicated that Verizon is having difficulty negotiating distribution rights with broadcasters and programmers.