of the Board is made up
of women or minorities.
Verizon is governed by a 12-member Board of Directors, and each member stands for election annually. Verizon’s business affairs are conducted by management, under the direction and supervision of the Board of Directors. The Board, and each committee of the Board, has complete access to management. At least once a year, the Board conducts a strategic planning session with management, and reviews succession planning and management development.
Our Board is committed to the highest standards of corporate governance because it believes that an effective board will positively influence shareholder value, enhance Verizon’s reputation and create value for all our stakeholders. There are four standing committees: Audit, Corporate Governance and Policy, Finance, and Human Resources. All Board members, with the exception of our Chairman and CEO, are independent directors, and Ms. M. Frances Keeth serves as our lead Independent Director.
Our Board members reflect a wide range of viewpoints, backgrounds and expertise. Diversity is a core attribute of a well-functioning Board, and ours is highly diverse: seven of 12 members, or 58 percent, are women or minorities.
Corporate responsibility governance
The Board’s Corporate Governance and Policy Committee reviews Verizon’s position and engagement on important public policy issues that may affect our business and reputation, including political contributions, lobbying activities and corporate social responsibility.
The Verizon Leadership Council manages corporate responsibility activities across the company – establishing benchmarks and goals, assigning and enforcing accountability, and tracking outcomes of corporate responsibility initiatives. The Council is made up of senior executives from various operating units and staff groups, and is chaired by Chairman and Chief Executive Officer Lowell McAdam.
Learn more here.