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Posted 03 March, 2023

VERIZON COMMUNICATIONS INC appointed Kyle Malady as new CEO

NYSE:VZ appointed new Chief Executive Officer Kyle Malady in a 8-K filed on 03 March, 2023.


  On March 2, 2023, the Verizon Board of Directors appointed Kyle Malady, Verizon's Executive Vice President and President - Global Networks & Technology, as Verizon's Executive Vice President and Group CEO - Verizon Business, effective immediately.  

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Overview of VERIZON COMMUNICATIONS INC
Telecommunication Services • Wireless Telecommunications Services
Verizon Communications, Inc. is a holding company, which engages in the provision of communications, information, and entertainment products and services. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments. The Consumer segment provides consumer-focused wireless and wire line communications services and products. The Business segment offers wireless and wire line communications services and products, video and data services, corporate networking solutions, security and managed network services, local and long distance voice services, and network access to deliver various Internet of Things (IoT) services and products. The company was founded in 1983 and is headquartered in New York, NY.
Market Cap
$169B
View Company Details
Relevant filing section
Item 5.02. 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On March 2, 2023, the Verizon Board of Directors appointed Anthony T. Skiadas, Verizon's Senior Vice President and Controller, to succeed Matthew D. Ellis as Verizon's Executive Vice President and Chief Financial Officer, effective May 1, 2023. On the same day, the Human Resources Committee of the Board of Directors approved a compensation increase for Mr. Skiadas in connection with his appointment. Effective May 1, 2023, Mr. Skiadas' base salary will increase from $625,000 to $800,000, his target short-term incentive opportunity will increase from 90% to 150% of base salary, and his target long-term incentive opportunity will increase from $2,200,000 to $7,000,000. Mr. Skiadas, 54, has served as Verizon's Senior Vice President and Controller since 2013.

On March 2, 2023, the Verizon Board of Directors appointed Mary-Lee Stillwell to succeed Mr. Skiadas as Verizon's Senior Vice President and Controller, effective May 1, 2023. On the same day, the Human Resources Committee of the Board of Directors approved a compensation increase for Ms. Stillwell in connection with her appointment. Effective May 1, 2023, Ms. Stillwell's base salary will increase from $425,000 to $525,000, her target short-term incentive opportunity will increase from 50% to 90% of base salary, and her target long-term incentive opportunity will increase from $600,000 to $1,200,000. Ms. Stillwell, 49, has served as Verizon's Vice President - Accounting and External Reporting, since she joined the company in 2020. From 2018 until she joined Verizon, Ms. Stillwell was Chief Accounting Officer for Clearway Energy, and prior to that, she was Vice President and Assistant Controller for NRG Energy, Inc.

On March 2, 2023, the Verizon Board of Directors appointed Kyle Malady, Verizon's Executive Vice President and President - Global Networks & Technology, as Verizon's Executive Vice President and Group CEO - Verizon Business, effective immediately. On that day, Mr. Malady ceased to serve as Verizon's Executive Vice President and President - Global Networks & Technology.

Mr. Ellis will leave Verizon on May 1, 2023.