It was known that Ivan Seidenberg wasn’t going to steer the ship forever. But when he steps down as the chief executive of Verizon Communications, who will fill his shoes?
The telecom giant answered that question this week, outlining plans for a corporate line of succession. For Lowell McAdam, who currently serves as CEO of Verizon Wireless, that means a promotion to COO and president of Verizon Communications, one of its corporate parents, a move that positions him to take over for CEO Ivan Seidenberg when he eventually steps down. And it doesn’t end there. Enterprise Mobile Today has the details on Verizon’s corporate shuffling.
Verizon Communications laid out its executive succession plans this week, announcing that wireless chief Lowell McAdam is being promoted to president and chief operating officer, and will hold that key position until eventually replacing current CEO Ivan Seidenberg atop the nation’s largest wireless service provider.
No immediate timetable was given for Seidenberg’s departure.
“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,” Verizon (NASDAQ: VZ) said in a statement. “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.”