Verizon Communications appointed Lowell McAdam, who currently leads
Verizon Wireless, president and chief operating officer, setting him up
to take over the telco's reins when chairman and CEO Ivan Seidenberg
retires.
The appointment, announced Monday, "clarifies" the succession plan
for Seidenberg, the telco said. Seidenberg, 63, is expected to retire
sometime in 2011.
McAdam's appointment, which takes effect Oct. 1, was expected "and
should be received well," Jeff Kagan, an independent wireless and
telecom industry analyst, wrote in a research note. "It all depends on
what McAdam does as CEO, but Seidenberg is leaving him with a strong and
growing business."
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