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NEW YORK - David H. Benson, senior vice president and controller for Verizon Communications Inc. (NYSE:VZ), today informed Verizon's Board of Directors of his intention to retire from the company by year-end.
A 34-year veteran of Verizon and its predecessor companies, Benson has been controller since June 2003, with responsibility for corporatewide accounting, public finance reporting and budget analysis. His successor will be named at a later date.
"Dave is a consummate financial expert -- a premier example of the wealth of financial and operational talent we have at Verizon," said Ivan Seidenberg, Verizon chairman and chief executive officer. "We will miss him, and we will always be grateful for the invaluable contributions he made to the creation of Verizon."
Doreen Toben, Verizon chief financial officer, said, "Dave has always been a dedicated professional -- thorough, detailed and extremely knowledgeable. His integrity, combined with his insight and understanding, has made him a role model among the financial professionals at Verizon."
Benson said, "I've enjoyed my years at Verizon. It's a world-class company, and I will savor the relationships I've developed over many years with so many extraordinary employees. After retirement, I'm planning to spend more time with my family -- my wife, Susan; my children, Leah and Jake; and my grandchildren, Jilian and Dave."
Prior to his current responsibilities, Benson was executive vice president - strategy, development and planning for Verizon, responsible for corporate strategy, mergers, acquisitions and divestitures, business development, venture investments, strategic alliances, joint ventures and strategic planning companywide.
At the time of the Bell Atlantic/GTE merger that formed Verizon in 2000, he was vice president - strategic planning for Verizon Wireless, responsible for the company's merger and acquisition, business development, strategic planning, merger integration, investment and pricing analysis organizations. He was previously vice president and chief financial officer of Bell Atlantic Mobile, one of the companies that merged to form Verizon Wireless. Benson directed a variety of acquisitions that increased the scale and scope of Verizon's wireless business.
Prior to joining Bell Atlantic Mobile in December 1994, Benson served as vice president and chief financial officer for NYNEX Mobile Communications. Before this, he was the assistant comptroller - financial planning for NYNEX Corp., where he was responsible for actuarial economic analysis, financial planning, management reporting and budgets, and merger and acquisition oversight.
Benson began his telecommunications career in the accounting department of New England Telephone in 1971 in Burlington, Vt. After assignments of increasing responsibility, including as a district manager in the Treasury Department of AT&T, he returned to New England Telephone in 1981 and was appointed to division manager - finance in 1983.
A native of New Hampshire, Benson graduated from the University of New Hampshire and later received his MBA from Pace University.
Verizon Communications Inc.
With more than $71 billion in annual revenues, Verizon Communications Inc. (NYSE:VZ) is one of the world's leading providers of communications services. Verizon has a diverse work force of 214,000 in four business units: Domestic Telecom provides customers based in 28 states with wireline and other telecommunications services, including broadband. Verizon Wireless owns and operates the nation's most reliable wireless network, serving 47.4 million voice and data customers across the United States. Information Services operates directory publishing businesses and provides electronic commerce services. International includes wireline and wireless operations and investments, primarily in the Americas and Europe. For more information, visit www.verizon.com.