NEW YORK - Verizon Communications Inc. (NYSE:VZ) announced the election of Donald T. Nicolaisen, former chief accountant of the U.S. Securities and Exchange Commission, to the Verizon Board of Directors, effective today.
"Donald Nicolaisen brings a distinguished record of leadership and integrity to Verizon. We are extremely pleased that Verizon will have the benefit of his unique experience as well as his perspective on high-quality corporate financial reporting and disclosure," said Ivan Seidenberg, Verizon chairman and CEO.
The addition of Nicolaisen to the Verizon board brings the total board membership to 12.
As the SEC's chief accountant from August 2003 through October 2005, Nicolaisen served as the principal advisor to the commission on accounting and auditing matters, and he was responsible for formulating and administering the accounting program and policies of the commission.
Nicolaisen forged a close working relationship with the Public Company Accounting Oversight Board (PCAOB) to fully implement sections of the Sarbanes-Oxley Act. He has also worked closely with the Financial Accounting Standards Board (FASB) and international standard setters toward eventual convergence of accounting standards.
Prior to joining the SEC, Nicolaisen was a senior partner at PricewaterhouseCoopers. He began his career at the firm's predecessor, Price Waterhouse, in 1967 upon completion of his B.A. in business administration from the University of Wisconsin, Whitewater. He has been a Certified Public Accountant since 1969.
Nicolaisen served on both the firm's U.S. and global boards, led Price Waterhouse's national office for accounting and SEC services, and was the engagement and global relationship partner for several of that firm's largest clients. He was Price Waterhouse's representative on the FASB's Emerging Issues Task Force (1988-1994).
He and his wife, Sandie, have three children.
Verizon Communications Inc. (NYSE: VZ), a Dow 30 company, is a leader in delivering broadband and other communication innovations to wireline and wireless customers. Verizon operates America's most reliable wireless network, serving 49.3 million customers nationwide, and one of the nation's premier wireline networks, serving home, business and wholesale customers in 28 states. Based in New York, Verizon has a diverse workforce of nearly 215,000 and generates annual revenues of more than $71 billion from four business segments: Domestic Telecom, Domestic Wireless, Information Services and International. For more information, visit www.verizon.com.