Verizon Promotes Lowell McAdam

Lowell C. McAdam has been named president and chief operating officer of Verizon Communications, reporting to Chairman and CEO Ivan G. Seidenberg, where he will have responsibility for the operations of Verizon's network-based businesses - Verizon Wireless and Verizon Telecom and Business - as well as Verizon Services Operations. In addition, McAdam is expected to take over as CEO of the company when Seidenberg retires.


McAdam currently serves as President and CEO of Verizon Wireless. Prior to assuming this position in 2007, McAdam served as executive vice president and chief operating officer of Verizon Wireless from the company's inception in 2000. Before that, McAdam was president and CEO of PrimeCo Personal Communications, a joint venture owned by Bell Atlantic and Vodafone AirTouch. He also served as PrimeCo's chief operating officer, responsible for overseeing the build, deployment and successful launch of the new company's customer service operations and all-digital network. McAdam is a member and past chairman of the Board of Directors of the CTIA, the wireless industry trade association.


Separately, Verizon named Francis J. Shammo, currently president of Verizon Telecom and Business, to become executive vice president and chief financial officer of the company, effective Nov. 1. Shammo will succeed John F. Killian, who last Monday announced he will retire around the end of the year.


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. The company additionally announced that John G. Stratton, currently chief marketing officer at Verizon Wireless, will succeed Mead as chief operating officer. The Mead and Stratton appointments are effective Oct. 1.


"This is a timely and logical next step in our evolution as we put in place an outstanding senior executive team that can carry us into the future. The decision by the Board to name these leaders now to such critical positions is a testimony to the depth, flexibility and breadth of Verizon's senior team, the soundness of our operating model, and strength of our culture. For the last several years, we have focused diligently on preparing these leaders to take on Verizon's most visible and challenging assignments. That diligence and focus is paying off with the development of highly skilled and broadly experienced executives who will ensure that Verizon doesn't skip a beat as we enhance value to customers and shareholders," stated Verizon Chairman and CEO Seidenberg.
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