September 7, 2018
Verizon’s digital media unit Oath appears to be in a state of change with CEO Tim Armstrong and other executives reportedly planning to leave the company.
Media reports – citing inside sources – said Armstrong’s exit would follow on the heels of Bob Toohey’s recent departure as chief people officer. Other executives said to be leaving include CFO Vanessa Wittman and Natalie Ravitz, chief communications officer.
Oath was founded in 2017 following Verizon’s acquisitions of AOL and Yahoo. Digital media brands folded into Oath include TechCrunch, Engadget, Edgecast and HuffPost, among others.
Armstrong, who headed AOL from 2009 until its purchase by Verizon, has been tasked in part to help the telecom establish an over-the-top video presence.
Indeed, after Verizon spent nearly $1 billion launching Go90, an ad-supported mobile app targeting the 18-34-year-old demo, Oath took over the app after it failed to gain traction. It was scuttled shortly thereafter.
Go90 remains a stain on former Verizon CEO Lowell McAdam, who stepped down in August.
Verizon reportedly declined to comment on the scuttlebutt.