NEW YORK - Daniel C. Petri, group president - International, has announced plans to retire after 37 years with Verizon Communications Inc., effective Aug. 1.
Since 2002, Petri has had overall responsibility for Verizon's businesses outside the United States, including telephone operations in more than 20 countries on five continents. His mission over the last several years has been to optimize the operational and financial performance of these international telephone operations. At the same time, he has helped Verizon rationalize its portfolio of international affiliates as the company has shifted its global emphasis to providing advanced communications services to businesses and governments around the world.
"Dan has distinguished himself as an astute operational executive and negotiator in diverse and often difficult business environments," said Chairman and CEO Ivan Seidenberg. "He has provided leadership and business acumen to Verizon during a period of rapid transformation. We will miss his wisdom and his counsel, and we wish him the best."
Petri said, "I have had the privilege of watching our company evolve from a sleepy monopoly to a raging global competitor. It has been great to be part of the change that has taken place, to help set the stage for further transformation, and to share the experience with such wonderful people. I want to thank all my friends and colleagues for the experience and the fun."
Petri will spend the next three months helping Verizon manage existing international investments, including the company's 23 percent stake in Vodafone Italy. He will also continue to oversee the operation and eventual disposition of Verizon Airfone, which provides in-flight telecommunications services in the general aviation market.
Petri started his career with Verizon predecessor company New York Telephone in 1971 and served in a variety of positions in the domestic telephone business, becoming vice president and general manager for operations in midtown Manhattan in 1991. Since 1994 he has been a senior executive in Verizon's International division.
A graduate of Rutgers University with a bachelor's degree in mechanical engineering and Long Island University with a master's degree in management science, he currently also serves as vice chairman of the Business Council for International Understanding, an organization formed in 1955 to strengthen ties between the U.S. Government and U.S. business interests overseas.
Verizon Communications Inc. (NYSE:VZ), headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 67 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employed a diverse workforce of approximately 232,000 as of the end of the first quarter 2008 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit www.verizon.com.