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Verizon names new CEO for Oath

Published 09/12/2018, 02:41 PM
Updated 09/12/2018, 02:50 PM
© Reuters. The logo for Verizon's Oath: is seen outside the company's offices in New York
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(Reuters) - Verizon Communications Inc (N:VZ) on Wednesday named K. Guru Gowrappan as the new chief executive officer of its media and advertising business, Oath, replacing Tim Armstrong.

Verizon last week said that Armstrong was in talks to leave Oath.

Gowrappan, currently Oath's chief operating officer, will be taking the top job on Oct. 1, Verizon said.

Gowrappan joined Oath from Alibaba Group (N:BABA) early this year.

Armstrong came to Verizon in 2015 following its takeover of AOL and headed Oath, which was created last year after the No.1 U.S. telecom company acquired the core business of Yahoo (NASDAQ:AABA) and merged it with AOL.

© Reuters. The logo for Verizon's Oath: is seen outside the company's offices in New York

Oath owns more than 50 brands, including HuffPost, TechCrunch and Tumblr, but has failed to make an impact in the space occupied by Facebook Inc (O:FB) and Alphabet Inc's (O:GOOGL) Google.

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