Verizon Wireless President and CEO Lowell C. McAdam has been named president and chief operating officer of Verizon Communications, reporting to Chairman and CEO Ivan G. Seidenberg, effective Oct. 1, 2010.
According to Verizon, the appointment of McAdam by the Verizon Board of Directors "is an important step in the succession process for when Seidenberg retires from the company." McAdam 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. Also reporting to him will be the technology management and CIO functions.
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.
Verizon Chairman and CEO Seidenberg said, "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."
Seidenberg emphasized that the decisions to name these executives to key posts was based on their individual successes operating a wide range of businesses. "The pedigree of these executives puts them in a league of their own. Each one of them is a leader who has repeatedly delivered results and enhanced shareholder value."
Regarding McAdam, Seidenberg said, "The Board’s selection of Lowell to this key, central position underscores its commitment to reward success while working with me to prepare our company for an executive transition in the future. Lowell is undeniably the right executive at the right time, given his track record of growth while managing one of the most dynamic and successful businesses in America."
In his current role at Verizon Wireless, McAdam, 56, leads the premier wireless provider with the wireless voice and 3G broadband data network. 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, helping to build the industry’s leading wireless company.
Previously, 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 has served as vice president – international operations for AirTouch Communications and was lead technical partner for cellular ventures in Spain, Portugal, Sweden, Italy, Korea and Japan. McAdam joined AirTouch as executive director of international applications and operations in 1993. Prior to that, he held various executive positions with Pacific Bell.
In addition to serving on the Verizon Wireless Board of Representatives, McAdam is a member and past chairman of the Board of Directors of the CTIA, the wireless industry trade association.
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