Bill Heitmann, Verizon's senior vice president-finance, will retire from Verizon effective at the end of this year, after more than 39 years with the company.
John Killian, Verizon's chief financial officer, announced that Ron Lataille, who currently serves as senior vice president-Investor Relations, will succeed Heitmann, and that John Doherty, currently chief financial officer for Verizon Services Operations (VSO), will succeed Lataille. Their appointments are effective Sept. 2.
Heitmann has been responsible for leading the Verizon Investment Management Corp. and its investment program of approximately $55 billion of assets. He also serves as chairman of Verizon Capital Corp., the company's financing subsidiary.
"As a colleague, mentor and advisor, Bill has displayed great leadership throughout a long and distinguished career in finance at Verizon," Killian said. "I owe Bill a personal debt of gratitude for how he has helped me and the company in a wide range of executive roles. We will miss his wisdom and guidance, and we wish him well in his next endeavor."
In his new position, Lataille, who will report to Killian, will also run Verizon's Investment Management Corp.
Killian said, "Ron has proven his leadership in a wide array of financial roles at Verizon. As the company's primary liaison with the investment community and Verizon's shareholders for the last five years, he has been a major force for telling the story of our transformation during a complex period in the investment markets. Ron has a strong grasp of what is required to grow a business and succeed in the marketplace, a trait that will serve Verizon and its constituencies well in his new assignment."
As the new head of Investor Relations, Doherty will be Verizon's primary liaison with the investment community and Verizon's shareholders.
Both Doherty and Lataille have held a variety of leadership positions at Verizon in finance and other organizations.
"These changes strengthen the experience and talent levels of our already strong financial organization," said Killian. "At the same time, the moves will help our company succeed by putting seasoned and proven leaders into key roles. Each of these executives has shown they can manage a wide range of financial operations and do so at a very high level. As the pace of change at Verizon accelerates and the level of financial complexity increases, I am confident this team will not skip a beat."
Verizon Communications Inc. (NYSE, NASDAQ:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 92 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon last year generated consolidated revenues of more than $107 billion. For more information, visit www.verizon.com.