Verizon Communications said today that Lowell McAdam will officially take over as chief executive on August 1.
McAdam takes the reins from longtime Chief Executive Ivan Seidenberg, who will retain his chairman title. McAdam was widely known as the heir apparent when he was promoted to president and chief operating officer in October. He previously ran Verizon Wireless, which is jointly owned by Verizon and Vodafone Group.
"His stellar leadership of Verizon Wireless and his outstanding 28-year career in the telecommunications industry have positioned Lowell to understand the potential of our company and the actions that need to be … Read more