VZ: Verizon Names Denny Strigl President and Chief Operating Officer

Verizon Wireless President Denny Strigl has been named President and Chief Operating Officer of Verizon Communications Inc. (NYSE:VZ), a new position reporting to Verizon Chairman and Chief Executive Officer Ivan Seidenberg, effective January 1, 2007. Strigl will have responsibility for the operations of all of Verizon's network-based businesses - Verizon Wireless, Verizon Telecom and Verizon Business - as well as Verizon Services Operations, which provides financial, real estate and other functional services to all of the company's operations. He also will remain a member of the Verizon Wireless Board of Directors.

Verizon also named Lowell McAdam, currently Executive Vice President and Chief Operating Officer at Verizon Wireless, to become President and Chief Executive Officer of Verizon Wireless, succeeding Strigl. Separately, Verizon named John Stratton, currently Vice President and Chief Marketing Officer for Verizon Wireless, to the newly created position of Executive Vice President and Chief Marketing Officer, responsible for the marketing and brand initiatives of all Verizon's business units. Shaygan Kheradpir, currently Chief Information Officer for Verizon Telecom, has been named to the newly created position of Executive Vice President and Chief Information Officer, responsible for the information technology initiatives of all Verizon's business units. McAdam, Stratton and Kheradpir will report to Strigl, and all of the positions are effective Jan. 1, 2007.

Also reporting to Strigl will be John F. Killian, President of Verizon Business; Daniel S. Mead, President of Verizon Services Operations; and Virginia P. Ruesterholz, President of Verizon Telecom.

The revised management structure will enable Verizon to focus more effectively on opportunities to grow and strengthen the business. As Chief Operating Officer, Strigl will provide a single point of accountability for all business units. The leadership provided by Stratton and Kheradpir will establish overall direction, policies and standards for marketing and information technology in the network-based business units and at Verizon Services Operations, which is focused on helping the customer-facing business units improve efficiencies, reduce costs and bring services to market faster. Stratton and Kheradpir will have oversight of functions common to all business units. The three network-based business units - Verizon Wireless, Verizon Business and Verizon Telecom - will execute their own network, sales and marketing strategies in their specific markets.

Verizon Chairman and CEO Seidenberg said, "This is a logical and effective evolution of our leadership structure, which recognizes the outstanding management talent and depth inherent in our businesses, as well as the rapidly changing dynamics of our markets. Denny Strigl, who has led Verizon Wireless, one of the nation's most successful high-technology companies and the largest wireless carrier by revenue, will be in a position to build partnerships that will develop the growth of our entire business, identify and take advantage of additional opportunities for synergies, and leverage Verizon's operational assets. Denny is a proven operational leader. He and his new team will focus on maximizing the full growth potential of Verizon's businesses."

Strigl said he will focus on driving organic growth from the investments Verizon is making in mobility, broadband and large-business services, while increasing speed to market. "Verizon is unique in the industry, having chosen a network-based investment strategy that will enable us to win market share and customer loyalty. Over the last year, we have established strong management teams with diverse capabilities in each of our business units, and we now are putting in place an execution-focused model that will give them overarching support while they expand their markets."

Verizon Vice Chairman Lawrence T. Babbio Jr., who announced on Dec. 11 that he will retire from Verizon at the end of the first quarter 2007, will continue to report to Seidenberg. Babbio will assist Strigl and Seidenberg in effecting the management transition, as well as advising on current business repositioning activities. Also continuing to report to Seidenberg will be Doreen A. Toben, Executive Vice President and Chief Financial Officer; William P. Barr, Executive Vice President and General Counsel; Thomas J. Tauke, Executive Vice President of Public Affairs, Policy and Communications; John W. Diercksen, Executive Vice President, Strategy, Development and Planning; Marc C. Reed, Executive Vice President, Human Resources; and Daniel C. Petri, Group President, International.