CEO Assumes Chairman Role at Verizon; New Board Member Elected

Verizon has confirmed that CEO Lowell McAdam, 56, has replaced Ivan Seidenberg, 65, as Chairman of the Board. Before becoming CEO, McAdam held the titles of COO of Verizon and EVP, COO, and CEO of Verizon Wireless. Prior to joining Verizon, he was the CEO of Primeco, a wireless joint venture between AirTouch and Bell Atlantic.