Verizon Communications Inc. (NYSE:VZ) today announced the election of Lowell C. McAdam, Verizon president and chief operating officer, to the Verizon Board of Directors, effective immediately.
"This is another important step in the succession process at Verizon," said Ivan Seidenberg, Verizon chairman and CEO, who has previously announced that he will retire later this year. "Following the board's appointment of Lowell as president and COO last fall, we have been working to prepare Verizon's leadership transition, and Lowell has provided outstanding leadership in running the day-to-day operations of the business."
The addition of McAdam brings Verizon's total board membership to 14.
As president and COO since Oct. 1, 2010, McAdam, 56, has been responsible for the operations of the company's network-based businesses -- Verizon Wireless and Verizon Telecom and Business -- as well as Verizon Services Operations. He is also responsible for the technology management and CIO functions.
In addition, McAdam is chairman of the Verizon Wireless Board of Representatives.
McAdam held key executive positions at Verizon Wireless since its inception in 2000 and helped build the company into the industry's leading wireless provider, with the nation's largest, most reliable wireless voice and 3G broadband data network. He became president and CEO of Verizon Wireless in 2007, and before that served as the company's executive vice president and chief operating officer.
Earlier, 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 also 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 is a director of the National Academy Foundation, a partnership between business leaders and educators that assists high schools across the country.
He earned a bachelor's degree in engineering from Cornell University and a master's degree in business administration from the University of San Diego. He also spent six years in the U.S. Navy's Engineer Corps and is a licensed professional engineer.