Last year Verizon Communications CEO Ivan Seidenberg announced that he would be stepping down. Lowell McAdam, who was at the time in charge of the Verizon Wireless business unit, took over as COO of Verizon Communications which was part of his transition to CEO. On Friday the transition became official and McAdam was named CEO with an appointment by the Verizon Communications Board of Directors.
Verizon Communications owns Verizon Wireless in partnership with Vodafone. In this new role McAdam will oversee the entire company including their wireless and wire-line operations. Included in that is the rapidly developing Verizon Fios network which offers customer cable tv, phone and internet over fiber optic cable.
Outgoing CEO Ivan Seidenberg will remain Chairman of the Verizon Communications Board of Directors during the transition. In regard to McAdam, Seidernberg said
“Lowell’s appointment to CEO is testimony to his extraordinary record of achievement. As a member of Verizon’s executive leadership team since 2000 and COO over the last 10 months, Lowell has proven his ability to move the organization quickly and to focus on strong performance on behalf of our employees, our customers and our investors. His stellar leadership of Verizon Wireless and his outstanding 28-year career in the telecommunications industry have positioned Lowell to understand the potential of our company and the actions that need to be taken every day to attain that potential. The board and I are excited by what Lowell brings to our company: his outstanding character, his conviction and his dedication to Verizon’s success.”
Lowell McAdam has had a successful career in both the industry and at Verizon. McAdam has been with Verizon Wireless since it’s inception in 2000. McAdam started as the executive vice president and chief operating officer. Prior to that McAdam was the CEO of PrimeCo a digital based regional carrier which was a joint venture between Bell Atlantic (acquired by Verizon) and Air Touch.
source: Verizon Wireless.