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Oath has previously acquired Yahoo and AOL but has yet to carve its own niche as an online service and content provider
Tim Armstrong, CEO of Verizon’s web based business unit, Oath, is said to be in talks with the company’s board of directors to step down from his role, according to reports in the press.
The Wall Street Journal reported that Armstrong has decided to walk away from his role as Verizon mulls a change of direction for Oath.
Armstrong joined Oath in 2015 and oversaw its acquisition of the internet search engine, Yahoo. Oath had previously acquired AOL and it was Armstrong’s vision to combine AOL and Yahoo to create a new online service provider, capable of challenging the likes of Google and Facebook.
However, Verizon’s new CEO Hans Vestberg is said to be more focussed on the mobile side of the business and is keen to allocate resources to fast track 5G rather than investing in online service provision.
Verizon had previously considered spinning off Oath and that option could return if and when Armstrong decides to leave his position with the firm.
Neither Verizon nor Oath have commented on the speculation.
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