Tim Armstrong is out at Oath

Confirming reports that have been circulating throughout the summer, Verizon Communications said that Guru Gowrappan will be replacing Tim Armstrong as the leader of Oath.

Gowrappan will assume all management responsibilities as chief executive at Oath and report to Verizon chief executive Hans Vestberg.

Armstrong will remain at the company to guide management transition efforts and will report to Verizon chairman Lowell McAdam.

Gowrappan joined oath from Alibaba Group and will assume management of operations now that the integration of Aol and Yahoo operations following the merger of those two companies by Verizon is nearing completion.

In a statement, Vestberg said, "Guru has proven experience in scaling businesses globally. I'm thrilled he will lead Oath in an exciting new phase of growth, building on the foundation Tim and his team have created by delivering brands our customers love."

This story is developing.