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Verizon announces appointments under succession planSep 21, 2010 (M2 EQUITYBITES via COMTEX) -- Broadband and other wireless and wireline communications services Verizon Communications (NYSE:VZ) announced on Monday that its president and CEO, Lowell C. McAdam, has been named president and chief operating officer of Verizon Communications Inc (NYSE:VZ)( Nasdaq: VZ), effective 1 October 2010. In his new role, McAdam will report to Ivan G Seidenberg, chairman and CEO of Verizon Communications. He will have responsibility for the operations of VerizonaEUR(TM)s network-based businesses aEUR" Verizon Wireless and Verizon Telecom and Business aEUR" as well as Verizon Services Operations. Also reporting to him will be the technology management and CIO functions. The appointment of McAdam by VerizonaEUR(TM)s board of directors is a part of the succession process when Seidenberg retires from the company. Prior to his current position, which he has held since 2007, McAdam served as executive vice president and chief operating officer of Verizon Wireless from the companyaEUR(TM)s inception in 2000. Before that he was president and CEO of PrimeCo Personal Communications. He also served as PrimeCoaEUR(TM)s chief operating officer. Earlier he was with AirTouch Communications as vice president - international operations. Separately, Verizon named Francis J. Shammo, currently president of Verizon Telecom and Business, as executive vice president and chief financial officer of the company, effective 1 November 2010. Shammo will succeed John F. Killian, who will be retiring at the end of the year. Prior to taking up his current position in 2009, Shammo was president of Verizon Business and before that was senior vice president and CFO for Verizon Business. Earlier he served as president - West area for Verizon Wireless and was vice president and controller at the time of Verizon WirelessaEUR(TM) launch in 2000. Verizon also announced that Daniel S. Mead, currently executive vice president and chief operating officer at Verizon Wireless, will become president and chief executive officer of Verizon Wireless, succeeding McAdam. Prior to his current position, which he has held since 2009, Mead was president of Verizon Telecom. Before that he was president of Verizon Services Operations and earlier was one of the founding senior executives of Verizon Wireless in 2000 and served as president of the companyaEUR(TM)s Midwest area. In addition, John G. Stratton, currently chief marketing officer at Verizon Wireless, will succeed Mead as chief operating officer. Prior to his current position, Stratton served as chief marketing officer for Verizon. Stratton joined Verizon WirelessaEUR(TM) predecessor company, Bell Atlantic Mobile, in 1993 as director of retail sales and operations. Later he served as vice president - marketing for the company and then as president of Bell Atlantic MobileaEUR(TM)s Philadelphia region. With the creation of Verizon Wireless in 2000, Stratton assumed the role of president - Northwest area. The appointments of Mead and Stratton are effective 1 October 2010. Comments on this story may be sent to [email protected] |