Longtime Verizon company vet Bob Toohey has stepped down as a president of the digital media arm of the company, Verizon Digital Media Services (VDMS), with VDMS’ chief revenue officer Ralf Jacob taking over the position, B&C has learned.
Toohey has been named executive VP for AOL, which Verizon acquired for $4.4 billion last year. He had been with Verizon since May of 2001, first as a VP of executive compensation and benefits, and worked his way up the ranks to president of VDMS in mid-2012.
Jacob, who joined Verizon in late 2013, after the company acquired cloud-based streaming media company upLynk, had been chief revenue officer since he came on board. Jacob previously spent time as a VP of digital media for Deluxe Digital Studios.