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VERIZON COMMUNICATIONS

(VZ)
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Verizon Communications : TJ Fox named to newly created role SVP of IIoT and Automotive, Verizon Business

05/20/2021 | 08:38am EDT

BASKING RIDGE, N.J. - TJ Fox has been appointed Senior Vice President of Industrial IoT and Automotive for Verizon Business. The newly created role is dedicated to fueling the company's expansion in the connected vehicle, device, and industrial equipment markets, which are poised for continued growth. Fox is responsible for leading business development, commercial modeling, and cross-functional efforts for Verizon's IoT and connected auto activities across multiple industries and business sectors.

'Customers need IoT solutions that transition seamlessly between fixed positions like warehouses and mobile locations moving across environments and geographies,' said Fox. 'As we advance into the 5G and MEC enhanced massive IoT era, Verizon has the existing network superiority, ongoing network investment - including our recently acquired C-Band spectrum - and deep enterprise experience to be partner of choice for customers with IoT and connected vehicle ambitions at the highest scale.'

'In naming a leader who can catalyze growth in burgeoning and rapidly changing markets, TJ was the obvious choice,' said Sampath Sowmyanarayan, Chief Revenue Officer (CRO) of Verizon Business. 'He has excelled at any task that is his charge in nearly three decades at Verizon, and with the company in prime position to take advantage of the enormous IoT growth on the horizon, he has the experience, drive, and vision to spearhead our expansion in these spaces.'

Gartner March 2021 Magic Quadrant for Managed IoT Connectivity Services, Worldwide, positions Verizon in its 'Leaders' quadrant, recognized for 'completeness of vision' and 'ability to execute.'

In the last decade, Verizon has built a dynamic portfolio of IoT platforms and solutions including connectivity for OEM, connected asset tracking and condition monitoring, IoT device and ecosystem management, smart energy and utilities solutions, and more.

Fox previously served as SVP and President of Verizon Business Markets, leading 5,000 sales professionals dedicated to selling wireless and wireline solutions to small and medium businesses in the U.S., contributing to an annual revenue of $12B.

Fox has also held positions in Retail and Business Sales, Telesales, US Operations, US Customer Service Operations and Verizon Enterprise Solutions, and several senior executive-level national and field operations roles, including SVP of the Wireless Business Group and SVP of National Operations for Verizon Wireless. He also served as President of the Illinois/Wisconsin region of Verizon Wireless.

Fox has been named a Crain's Chicago '40 under 40' award winner and is a seven time recipient of Verizon President's Cabinet award, which is the highest honor that a Verizon sales professional and leader can attain. He currently sits on the Leadership Council for Prevent Child Abuse America (PCAA).

1 Gartner, Magic Quadrant for Managed IoT Connectivity Services, Worldwide, Pablo Arriandiaga, Eric Goodness, Leif-Olof Wallin, Jonathan Davenport, March, 2021.

Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Disclaimer

Verizon Communications Inc. published this content on 20 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 May 2021 12:37:05 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2021 135 B - -
Net income 2021 21 876 M - -
Net Debt 2021 145 B - -
P/E ratio 2021 10,6x
Yield 2021 4,54%
Capitalization 233 B 233 B -
EV / Sales 2021 2,79x
EV / Sales 2022 2,73x
Nbr of Employees 129 300
Free-Float 96,5%
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Mean consensus HOLD
Number of Analysts 30
Last Close Price 55,78 $
Average target price 60,77 $
Spread / Average Target 8,94%
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Managers and Directors
Hans Erik Vestberg Chairman & Chief Executive Officer
Matthew D. Ellis Chief Financial Officer & Executive Vice President
Kyle J. Malady Chief Technology Officer & Executive VP
Shankar Arumugavelu Global Chief Information Officer
Craig Silliman Chief Administrative & Legal Officer, Executive VP
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