NEW YORK - Verizon Communications Inc. (NYSE: VZ) announced today the election of Robert W. Lane, chairman and chief executive officer of equipment manufacturer Deere & Company, to the Verizon Board of Directors, effective March 1.
"Robert Lane's record of leadership, integrity and success at one of the world's best- known manufacturing companies will benefit Verizon as we continue to strengthen our operations, build our brand and transform our business," said Ivan G. Seidenberg, Verizon chairman and CEO. "We are fortunate to be able to tap into his significant and global financial and operational experience at an important time for Verizon."
The addition of Lane to the Verizon board brings the total board membership to 12.
Lane was named CEO of Deere & Company in May 2000 and chairman of the board in August 2000. He has served as the company's president and chief operating officer since January 2000; he was president of John Deere's Worldwide Agricultural Equipment Division, and he served as the company's chief financial officer. He also was president of Deere Credit Inc., and over his career, he has directed most of John Deere's operations around the world.
In addition to his duties at Deere & Company, Lane is a trustee for the Committee for Economic Development and a member of The Business Roundtable and Business Council. He serves on the board of directors for Deerfoot Lodge, Wilderness Camp in New York, and co-chairs the Capital Campaign Committee for the Davenport Museum of Art Foundation in Iowa. Lane is also a member of the boards of the Lincoln Park Zoo and the Lyric Opera of Chicago.
Born in Washington, D.C., on November 14, 1949, Lane graduated with high honors from Wheaton College, Wheaton, Ill., in 1972. He earned a Master of Business Administration degree from the Graduate School of Business at the University of Chicago in 1974, and has participated in advanced executive education programs at Columbia, Harvard, Wharton, Stanford and Dartmouth.
John Deere (Deere & Company - NYSE:DE) is the world's leading manufacturer of agricultural and forestry equipment; a leading supplier of equipment used in lawn, grounds and turf care; and a major manufacturer of construction equipment. Additionally, John Deere manufactures and markets engines used in heavy equipment and provides worldwide financial services as well as landscape and healthcare services. Since it was founded in 1837, the company has established a heritage of quality products and services, now delivering performance that endures to customers around the globe.
A Fortune 10 company, Verizon Communications (NYSE:VZ) is one of the world's leading providers of communications services, with approximately $67 billion in revenues. Verizon companies are the largest providers of wireline and wireless communications in the United States, with more than 139 million access line equivalents and 36 million Verizon Wireless customers. Verizon is the third largest long-distance carrier for U.S. consumers, with nearly 16 million long-distance lines. The company is also the largest directory publisher in the world, as measured by directory titles and circulation. Verizon's international presence includes wireline and wireless communications operations and investments, primarily in the Americas and Europe. For more information, visit www.verizon.com.