Strigl to take over as Verizon president and COO

Verizon Communications announced Tuesday that Denny Strigl, currently Verizon Wireless' president and CEO, will take over as president and chief operating officer of Verizon Wireless's parent company, Verizon Communications. Starting January 1, Strigl will fill a position left by Lawrence Babbio, former president and vice chairman, who announced his retirement last week.

In his new position, Strigl will report directly to Verizon's CEO Ivan Seidenberg. He will have responsibility for the operations of all of Verizon's network-based businesses, including Verizon Wireless, Verizon Telecom and Verizon Business. He also will remain a member of the Verizon Wireless Board of Directors. Verizon also said Tuesday that Lowell McAdam, currently executive vice president and chief operating officer for Verizon Wireless will become the new president and CEO for Verizon Wireless.