Monday, October 9, 2017

Key Verizon Exec Steps Down After Yahoo Hack Snafu -

last week, Verizon was forced to admit that the recent Yahoo hacks actually impacted every single Yahoo customer -- not just the 1 billion subscribers Yahoo originally claimed. Yahoo found itself in hot water for failing to disclose the hacks to Verizon during deal negotiations, though Verizon was ultimately able to knock around $350 million off its asking price due to these failures.

Just a few days later, Verizon announced that company executive Marni Walden will be leaving the carrier in February of next year. Walden had been tasked with overseeing Verizon's integration with both Yahoo and AOL, resulting in a new ad company Verizon is calling Oath.

Last June, Walden was named head of Verizon's Media and Telematics division in a significant restructuring.

"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."

Many analysts believe Walden's departure is tied to the numerous problems faced by Verizon as it tries to pivot from stodgy old protectionist telco to sexy new advertising juggernaut. Yahoo failed to disclose either of two massive hacked during deal negotiations, and the scope of the hack has only ballooned in size as Verizon has attempted to integrate Yahoo's assets. Verizon has also struggled to make headway with its Go90 video service, a cornerstone of Verizon's pivot.

Verizon, however, tells Reuters her departure is not related to these problems.

"She is leaving because she wants to pursue other opportunities," insists the company. "This is not related at all to yesterday's news."

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