- Oath president and COO Guru Gowrappan will assume the role of CEO October 1.
- Armstrong will stay on at the firm to help with transition until the end of 2018.
- Yahoo and AOL was doomed from the start
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Oath CEO Tim Armstrong is stepping down in October
Tim Armstrong, the CEO of Verizon's media and advertising business, Oath, will step down from his position in October. Effective October 1, Oath president and COO Guru Gowrappan, will assume the role of CEO and will report to Verizon CEO Hans Vestberg.
Tim Armstrong, the CEO of Verizon's media and advertising business, Oath, will step down from his position in October, according to Verizon.
Verizon plans to integrate parts of Oath's business into the larger company, sources close to the matter told Business Insider last week.
Verizon has not confirmed reports that an integration is underway. "We don't comment on speculation and have no announcements to make," Verizon said in a statement to Business Insider.
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The integration between AOL and Yahoo has never been on solid footing, according to former senior AOL employees.
And as a result of the decision to integrate parts of the company's business into Verizon and the expected departure of CEO Tim Armstrong, Oath's executive leadership team is in flux, according to people close to the matter.
The company's chief people officer, Bob Toohey, a longtime Armstrong confidant, departed last week, and its CFO, Vanessa Wittman, and chief communications officer, Natalie Ravitz, are planning to leave in the coming weeks.
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