Verizon Communications (VZ) announced a new operating structure focused on three customer-facing areas: Consumer, Business and Verizon Media Group/Oath. These groups will be supported by a network and IT organization, and corporate-wide staff functions. The changes will be effective Jan. 1, 2019. Verizon expects to transition to financial reporting under the new structure during second-quarter 2019. "This new structure reflects a clear strategy that starts with Verizon customers," said CEO Hans Vestberg. "We're building on our network transformation efforts and the Intelligent Edge architecture to deliver new customer experiences and optimize the growth opportunities we see as leaders in the 5G era. We're focused on how our technology can benefit customers' lives and society at large."

Verizon Consumer Group will include the consumer segment for both the company's wireless and wireline businesses, including wireless wholesale. It will be led by Ronan Dunne, currently executive vice president and president of Verizon Wireless. Verizon Business Group will include the wireless and wireline enterprise, small and medium business, and government businesses, as well as wireline wholesale and Verizon Connect, the company's telematics business.

It will be led by Tami Erwin, currently executive vice president - Wireless Operations. Verizon Media Group / Oath sits at the intersection of media, advertising and technology, helping people access and receive media, entertainment, gaming, news, commerce and other services. It will be led by Guru Gowrappan, who was previously announced as Oath CEO. V

erizon's Global Network & Technology organization, which will serve all company operations, will be led by Kyle Malady, currently chief network operations officer and chief technology officer. There are no changes in leadership for company-wide staff functions.