Leadership Change Signals New Era for Verizon Consumer Group

Verizon Consumer Division Chief, Sowmyanarayan Sampath, is stepping down as part of the company's turnaround efforts led by new CEO Dan Schulman. Alfonso Villanueva, the Chief Transformation Officer, will take over as interim CEO. Verizon plans to cut jobs and revamp retail operations.

Sowmyanarayan Sampath, head of Verizon's consumer division, is stepping down amidst a corporate shift as the company accelerates its turnaround strategy guided by new CEO Dan Schulman.

Sampath, who has held the position since March 2023, will vacate his role by March 31. Verizon announced that Chief Transformation Officer Alfonso Villanueva will operate as interim CEO of the Consumer Group during this transition period.

In November, the telecommunications giant revealed its decision to reduce its workforce by 13,000 and transition 179 of its corporate-owned retail stores into franchised operations. Villanueva, who joined Verizon in November, brings experience from a previous tenure alongside Schulman at PayPal.