Market Talk -- Verizon's New Media Chief Gets $12.8 million
March 18 2019 - 5:54PM
Dow Jones News
The new head of Verizon's media and advertising unit made $12.8
million in 2018, the carrier said in a filing Monday. K. Guru
Gowrappan became chief operating officer of the unit formerly known
as Oath in April and was promoted to chief executive of the
business in October when prior head Tim Armstrong stepped down. The
unit has struggled to meet revenue targets and is now looking
beyond its initial advertising and data-centric strategy for
revenue, pushing further into e-commerce and subscription services.
Mr. Gowrappan's compensation last year included a $2 million bonus,
a $603,448 base salary, $8.7 million in stock awards, a $1 million
non-equity incentive plan and $433,665 in other compensation.
Officials in charge of compensation in the filing called the unit's
current revenue target "attainable, but challenging in light of the
business environment." (Sarah Krouse at sarah.krouse@wsj.com)
(END) Dow Jones Newswires
March 18, 2019 18:39 ET (22:39 GMT)
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