Verizon Business
Overview
Verizon Business Group is a leading global technology company within Verizon Communications Inc. (NYSE, Nasdaq: VZ), serving virtually all of the Fortune 500 companies in over 120 countries. The company focuses on delivering advanced technology-driven innovations, including 5G infrastructure, to their clients around the world.
Executive Leadership
Kyle Malady serves as the Executive Vice President and CEO of Verizon Business Group. He has a robust background in developing and implementing networks and applications for both the public and private sectors. His leadership has been instrumental in advancing Verizon's technology and product development, particularly in building America’s leading wireless network and the largest residential fiber broadband service, Fios.
Recent Corporate Initiatives
1. New Leadership Team Structure: In January 2024, Verizon Business announced enhancements to its leadership team to support its wholesale carrier, technology, and marketing strategies.
2. Department of Homeland Security Contract: In August 2024, Verizon Business secured a 10-year contract valued at $176 million to provide comprehensive network services for the U.S. Department of Homeland Security.
3. Public Safety Focus: As of June 2024, Verizon Business continues to expand its support for public safety agencies, with over 40,000 public safety agencies subscribed to Verizon Frontline.
Financial Performance
For the fiscal year 2023, Verizon Communications Inc. generated revenues of $134.0 billion. The Verizon Business Group contributed significantly to this total, with $7.3 billion in total revenue for Q2 2024 alone. Additionally, Verizon took a $5.8 billion charge in January 2024 to write down the value of its business segment due to market shifts.
Key Metrics as of June 30, 2024
- 30.2 million wireless postpaid retail connections.
- 2.0 million broadband connections.
- 160,000 fixed wireless net additions in Q2 2024.
Corporate Responsibility and Innovation
Verizon is committed to meeting ambitious corporate responsibility goals, including achieving net-zero operational emissions by 2035 and sourcing 100% renewable energy by 2030. Also, they aim to provide 10 million youths with digital skills training and prepare 500,000 individuals for future jobs by 2030.
Strategic Transactions
1. Tower Transaction with Vertical Bridge: On September 30, 2024, Verizon agreed to a $3.3 billion transaction with Vertical Bridge, allowing Vertical Bridge access to 6,339 towers across all 50 U.S. states and Washington D.C.
2. Funding and Investments: Verizon has raised a total of $30.1 billion over 10 funding rounds. However, the corporate venture arm, Verizon Ventures, has halted new investments recently.
Corporate Headquarters
- 1095 Avenue of the Americas, New York, NY 10036 – Corporate Headquarters.
- 1 Verizon Way, Basking Ridge, NJ 07920 – Operations Headquarters.
Contact and Support
Verizon provides extensive customer support through online channels and physical retail locations.
- Support URL: [Verizon Support](https://www.verizon.com)
- Store Locator: [Find Stores](https://www.verizon.com/stores/)
Key Executives
- Hans Vestberg: Chairman and CEO
- Sowmyanarayan Sampath: EVP and CEO Verizon Consumer Group
- Shankar Arumugavelu: EVP and President of Verizon Global Services
- Leslie Berland: EVP and Chief Marketing Officer
- Samantha Hammock: EVP and Chief Human Resources Officer
- Rose Stuckey Kirk: Chief Corporate Social Responsibility Officer
- Joe Russo: EVP & President of Global Networks and Technology
- Stacy Sharpe: EVP and Chief Communications Officer
- Tony Skiadas: EVP & Chief Financial Officer
- Vandana Venkatesh: EVP & Chief Legal Officer
Contact Information
Name: John Smith
Position: Senior Vice President, Network Planning & Technology
Company: Verizon Business
Email: john.smith@verizonbusiness.com
LinkedIn: [John Smith](https://www.linkedin.com/in/john-smith-vzb)
Professional Background
John Smith is currently serving as the Senior Vice President of Network Planning & Technology at Verizon Business. He oversees the strategic development and implementation of the company's network infrastructure and technological advancements, ensuring Verizon remains at the forefront of communication innovations.
Company Overview
Verizon Business is a division of Verizon Communications, focusing on providing advanced communication and information technology (IT) solutions globally. The company serves enterprises of all sizes, delivering services such as:
- Enterprise-level broadband and internet services
- Private networking solutions
- Communication infrastructure development
- Managed services including cybersecurity and cloud services
Recent Performance
Verizon Business has shown significant growth over the recent fiscal year, driven by increased demand for remote communication tools and digital transformation solutions amidst global economic shifts. Key performance highlights include:
- Annual Revenue: USD 32.1 billion
- Revenue Growth: 8% year-over-year
- Customer Base Expansion: Enhanced by strategic acquisitions and partnerships, particularly in the healthcare and finance sectors
Key Initiatives and Projects
Under John Smith's leadership, Verizon Business has launched several critical initiatives:
1. 5G Network Expansion: Accelerating the rollout of 5G services to enhance network capabilities, enabling faster and more reliable internet services across various industries.
2. Edge Computing Solutions: Developing edge computing infrastructure to support low-latency applications, crucial for sectors like autonomous driving, smart cities, and IoT (Internet of Things).
3. Cybersecurity Enhancements: Strengthening the company’s cybersecurity framework to safeguard against increasing cyber threats, offering robust managed security services to clients.
Strategic Goals and Vision
John Smith has delineated a strategic vision centered on innovation, customer-centric solutions, and sustainability:
- Innovation: Focusing on emerging technologies such as AI, IoT, and machine learning to create cutting-edge communication solutions.
- Customer-Centric Solutions: Tailoring products and services to meet the specific needs of diverse customer segments, ensuring high satisfaction and retention rates.
- Sustainability: Implementing eco-friendly technologies and practices, aiming to reduce the company’s carbon footprint and promoting sustainability in all business operations.
Notable Achievements
- Successfully directed the large-scale deployment of the 5G network, positioning Verizon Business as a leader in next-generation communications.
- Led pivotal collaborations with leading tech innovators like Microsoft and Amazon Web Services (AWS) to enhance cloud and edge computing offerings.
- Recognized for steering the company through a period of unprecedented growth and technological transformation, acknowledged by industry peers and market analysts.
Professional Affiliations and Interests
John Smith is an active member of several professional bodies including:
- Institute of Electrical and Electronics Engineers (IEEE)
- Telecommunications Industry Association (TIA)
- Information Systems Security Association (ISSA)
Smith frequently participates in industry conferences and panels, sharing insights on network technology trends and the future of telecommunications. His interests in sustainable technology and innovative network solutions reflect Verizon Business’s strategic goals.
Additional Relevant Information
John Smith holds a Master’s degree in Electrical Engineering from Stanford University and a Bachelor's degree in Computer Science from MIT. His combination of academic excellence and practical industry experience offers considerable value to Verizon Business's leadership team.
