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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