Verizon Names Chief Network Officer As Acting CTO

Telecom giant Verizon has a named a new chief technology officer to fill in for former CTO Hans Vestberg as he steps into the CEO seat.

Kyle Malady, Verizon's senior vice president and chief network officer, is now the acting CTO for the carrier.

Verizon in June said its CEO of seven years, Lowell McAdam, would be retiring Aug. 1 and that his successor would be Vestberg, Verizon's CTO, executive vice president, and president of global networks.

[Related: Verizon Doubles Down On Media, IoT Segments As Business Services Revenue Decline]

Verizon confirmed to CRN that Malady is taking over at the helm of the company's technology strategy but hasn't issued a public statement regarding the seat change.

Malady was identified as acting CTO on Verizon's Weekly Comms Update in the newsroom section of its website.

Vestberg's promotion from CTO to CEO suggests that the carrier is putting a heavy emphasis on building out its next-generation network and developing new mobile solutions, such as 5G, solution providers told CRN in June. Malady, who has worked on Verizon's fiber buildout in his role as chief network officer, will likely continue to be involved in the growth of the carrier's fiber footprint and densification of its wireless network in preparation of 5G services.

Verizon, Basking Ridge, N.J., hasn't offered any other details on a search for a permanent CTO.

A telecom veteran, Malady previously served as vice president of new product development for Verizon Wireless, where he was responsible for developing new products and services. He helped to launch platforms such as VCast Music, VZ Navigator, Push to Talk, VZ MobileWeb and the Verizon App Store.

In June, John Stratton, one of Verizon Wireless' founding leaders, also revealed his plans to retire from Verizon by the end of the year. Stratton is stepping down from his role as executive vice president and president of global operations.