In addition to continuing responsibility for marketing, brand and communications strategy, Cowdry and her team will take on oversight for the commercial performance of its consumer products.
Previous responsibility for commercial performance was split between sales and marketing.
The change comes as O2 announced it has combined its consumer sales and customer service directorate under one division, bringing its total directorates from eight to seven.
The company is looking for a director to take on the new sales and services role. Former business director Ben Dowd will take responsibility for the role in the interim.
The move aims to bring the in store, online and customer helpline services in-line with each other.
The telecoms firm says the restructure recognises the need to offer customers a consistent service across its online, in store and telesales platforms.
A spokesman says: “We are streamlining our management structure so that we can invest more in the experience we deliver to our customers.”
O2 has also restructured Tim Sefton’s customer director role to become new business development, with responsibility for all O2’s activity outside its core mobile business, including O2 Money and O2 Health.
In addition, the O2 communications team, which includes PR, public affairs and internal communications will now report directly to CEO Ronan Dunne.