Verizon Communications Inc. (NYSE: VZ) is a technology and telecommunications company that serves consumers, businesses and governments worldwide. The company's wireless division offers voice and data service, location-based services, and multimedia, business, network and internet services to users of tablets, smartphones and other wireless devices, while the company's wireline division offers a similar variety of services to customers via cable and other wired forms of communication. Formerly known as Bell Atlantic Corp., the company changed its name to Verizon in 2000.
As of December 31, 2017, Verizon had 116.26 million retail connections. For the fiscal year ending on Dec. 31, 2017, it generated revenues of $126 billion and net income of $30.55 billion. Verizon's experienced team of executives includes three individuals who make crucial strategic decisions for the company.
Lowell C. McAdam
Lowell C. McAdam has served as the CEO of Verizon since Aug. 1, 2011, and the chairman since Jan. 1, 2012. McAdam has led Verizon's initiative to roll its remaining interest in Verizon Wireless into the parent company through the purchase of the 45% stake held by Vodafone Group PLC (NASDAQ: VOD). In addition, McAdam has spearheaded efforts to pursue growth markets such as the internet of things (IoT) and mobile entertainment. As part of this strategy, Verizon purchased AOL and launched social media and entertainment product Go90 during McAdam's tenure.
McAdam has held several positions with Verizon since joining the company in 2000. Prior to serving as chairman and CEO, he was president and chief operating officer (COO) and managed the company's wireline and wireless operations. In the latter role, he also presided over technology management and acted as chief information officer (CIO) for the company. From 2007 to 2010, he was president and CEO of Verizon Wireless, and before that, he served as Verizon's executive vice president and COO. Prior to 2000, he served as president and CEO of PrimeCo Personal Communications, vice president of international operations at AirTouch Communications, and in various roles with Pacific Bell Telephone Co. McAdam holds a bachelor's degree in engineering from Cornell and a master's degree in business administration from the University of San Diego.
Matthew D. Ellis
Matthew D. Ellis has been the executive vice president and chief financial officer (CFO) of Verizon since Nov. 2, 2016. In this role, he is in charge of the company’s finance, strategic planning operations and financial transaction services. Before taking on these positions, he was the senior vice president and CFO of operations finance, and was responsible for giving financial support to both the wireless and wireline divisions. Prior to this, he was senior vide president and treasurer for Verizon, looking after corporate-wide financing, cash management, pension and insurance activities, and the Verizon Capital Group. Ellis has been with Verizon since 2013.
Before joining Verizon, Ellis spent 15 years with Tyson Foods, Inc. (NYSE: TSN), most recently as vice president and treasurer, where he oversaw financing, cash management, insurance and credit. Between 2007 and 2010, he was vice president of finance and was responsible for M&A activity, including transactions in China, Brazil and India. Between 2295 and 2007, he handled all aspects of the company's Mexico subsidiary as vice president, country manage. Ellis also held numerous positions within Tyson between 1997 and 2004 in accounting and finance. Before his time with Tyson, Ellis worked in England for Dixons Stores Group PLC and Coopers & Lybrand where he qualified as a Chartered Accountant. Ellis holds a Bachelor of Commerce (Accounting) degree from the University of Birmingham in the United Kingdom.
John G. Stratton
John G. Stratton is executive vice president and president of global operations at Verizon. Stratton manages and grows both the wireless and wireline businesses at the company, including Verizon Wireless, Consumer and Mass Business, Verizon Enterprise Solutions and Verizon Partner Solutions. Prior to fulfilling this role, he was executive vice president and president for the global enterprise and consumer wireline division, which includes the company's cloud computing and cybersecurity platforms.
Stratton has also served as president of Verizon Enterprise Solutions, as well as executive vice president and COO of Verizon Wireless. He began his career at Verizon when he joined the predecessor company Bell Atlantic Mobile in 1993 as director of retail sales and operations. He served in marketing roles and as president of Bell Atlantic's Philadelphia region. Stratton managed the northwest region for Verizon Wireless beginning in 2000. He is a graduate of Harvard Business School.