Verizon Wireless CEO Daniel Mead is set to retire following a management shuffle at the U.S. telco.
In an SEC filing on Tuesday, Verizon disclosed that John Stratton, who is currently in charge of the fixed-line side of the company, has been appointed to a new role as president of operations. This will see him take charge of both Verizon’s fixed and wireless businesses; he will continue to report to Verizon CEO Lowell McAdam.
Meanwhile, Mead will become president of strategic initiatives, giving him responsibility for the transfer of Verizon’s wireline assets in California, Florida, and Texas to Frontier Communications, which agreed to acquire them earlier this month for $10.54 billion.
"Mr Mead expects to retire following the completion of the strategic initiatives on which he is working," said Veri zon in its SEC filing.
Mead was one of Verizon Wireless’ founding senior executives in 2000, heading up its Midwest business. He held various senior roles before being named CEO of Verizon Wireless in 2010.
