Tim Armstrong, CEO of Verizon's Oath subsidiary, is leaving.
"Guru has proven experience in scaling businesses globally," Hans Vestberg, CEO of Verizon, said in a statement. "I'm thrilled he will lead Oath in an exciting new phase of growth, building on the foundation Tim and his team have created by delivering brands our customers love."
Armstrong joined AOL in 2009 and became CEO of Oath in 2017 after AOL and Yahoo were combined into Oath under Verizon. As Oath's chief, he's been in charge of digital media brands such as TechCrunch, HuffPost, AOL and Yahoo.
Gowrappan has served as president and chief operating officer of Oath since he arrived at the company in April. Before that, he was Alibaba's global managing director. Next month, he will assume duty as Oath's new boss and will report to Vestberg directly.
Though it's still unclear why Armstrong is leaving.
A Verizon spokesperson provided CEO Hans Vestberg's email to Verizon employees:
As we move our business forward and position it for the future, I'd like to update you on leadership changes within the Oath business that will soon take place.
Guru Gowrappan will become Oath's leader October 1, and will drive the next phase of Oath's global growth strategy. Guru is a proven leader in building brands, leading teams and driving results. Since he joined Oath earlier this year as chief operating officer, Guru's been leading the products, technology, engineering and sales operations. I'm thrilled Guru will lead Oath into the future as we continue to deliver brands our customers love.
Oath founder and CEO Tim Armstrong will become a strategic advisor reporting to our Chairman Lowell McAdam and help in the management transition efforts before leaving the business at the end of 2018. I'm exceedingly grateful to Tim for his many contributions to the business, and I believe his support over the next few months will continue to strengthen Oath's market potential.
Please join me in congratulating Guru and thanking Tim.