Verizon Wireless President and CEO Lowell McAdam has been named president and chief operating officer of Verizon Communications, reporting to Chairman and CEO Ivan Seidenberg, effective Oct. 1. The appointment of McAdam by the Verizon Board of Directors is an important step in the succession process for when Seidenberg retires from the company.

McAdam will have responsibility for the operations of Verizon’s network-based businesses – Verizon Wireless and Verizon Telecom and Business – as well as Verizon Services Operations. Also reporting to him will be the technology management and CIO functions.

Daniel Mead, currently executive vice president and chief operating officer at Verizon Wireless, will become president and chief executive officer of Verizon Wireless, succeeding McAdam.

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Paramount’s Reason for Settling Trump Lawsuit

With news breaking overnight of Paramount Global’s $16 million settlement of President Trump’s “60 Minutes” lawsuit, the company couldn’t ignore the elephant in the room during its annual shareholder meeting Wednesday.

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