Matt Ellis To Depart As Verizon CFO, Names Insider Tony Skiadas As New Finance Chief

Verizon Communications Inc VZ announced several executive management changes.
CFO Matt Ellis will depart to pursue other interests, effective May 1. Ellis has been the CFO since November 2016.
Verizon named Senior Vice President & Controller Tony Skiadas as the new CFO.
Verizon appointed Sowmyanarayan Sampath, currently leading Verizon Business Group, as Executive Vice President and CEO of Verizon Consumer Group (VCG).
Kyle Malady, currently leading Global Networks & Technology, became the Executive Vice President and CEO of Verizon Business Group (VBG).
Verizon named Joe Russo, Senior Vice President, and Chief Network Officer, as Executive Vice President and President of Global Networks and Technology. Russo succeeded Malady.
In January, Verizon reported a fourth-quarter FY22 sales growth of 3.5% year-on-year to $35.3 billion, beating the consensus of $35.1 billion.
Adjusted EPS of $1.19 was in line with the consensus.
Postpaid phone net additions of 217,000, and retail postpaid net additions of 1,434,000, marked the best single-quarter performance in seven years.
The quarter marked 416,000 total broadband net additions.
Price action: VZ shares traded higher by 0.36% at $38.55 in premarket on the last check Friday.

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