CEO Dan Mead will retire after he's done managing Verizon's wireline sale to Frontier, and John Stratton will take on the new role of EVP and president of operations.

Sarah Thomas, Director, Women in Comms

February 18, 2015

2 Min Read
Verizon Wireless CEO to Retire

Verizon is reorganizing its operating structure in preparation for the retirement of the CEO of its Wireless division, Dan Mead.

According to an Securities and Exchange Commission (SEC) filing on Tuesday, Mead has been appointed to a new role of "Executive Vice President and President of Strategic Initiatives, with responsibility for directing the transfer of Verizon's wireline operations in California, Florida and Texas to Frontier Communications Corp. (NYSE: FTR)." Following the completion of the "strategic initiatives on which he's working," Mead "expects" to retire, the filing reads. (See Verizon Sells Towers & Wireline Assets for $15B.)

Mead was one of the founders of Verizon Communications Inc. (NYSE: VZ) in 2000, and he's held positions ranging from the head of Verizon Telecom to COO. In 2010, he took over as executive vice president and president and CEO of Verizon Wireless , replacing now Verizon Chairman and CEO Lowell McAdam. He's been instrumental in a number of Verizon's mobile initiatives, including its participation in the mobile wallet joint venture Isis, now Softcard, small cells and all of Verizon's past spectrum deals. (See Verizon Ready to Flash Isis Mobile Wallet, Verizon CEO: Small Cells Coming in 2013, VZ Wireless, T-Mobile Strike Spectrum Deal and Verizon Restructures.)

Read more about mobile moves on the dedicated 4G LTE channel here on Light Reading.

In preparation for his retirement, John Stratton, Verizon's executive vice president and president of global enterprise and consumer wireline, will take on the newly created role of executive vice president and president of operations, overseeing both Verizon's wireless and wireline business. Both Stratton and Mead will report to Verizon CEO McAdam.

Mead sold 24,898 shares of Verizon stock last week at $49.70 per share on average, netting him a $1,237,430.60 pre-retirement payday.

— Sarah Thomas, Circle me on Google+ Follow me on TwitterVisit my LinkedIn profile, Editorial Operations Director, Light Reading

About the Author(s)

Sarah Thomas

Director, Women in Comms

Sarah Thomas's love affair with communications began in 2003 when she bought her first cellphone, a pink RAZR, which she duly "bedazzled" with the help of superglue and her dad.

She joined the editorial staff at Light Reading in 2010 and has been covering mobile technologies ever since. Sarah got her start covering telecom in 2007 at Telephony, later Connected Planet, may it rest in peace. Her non-telecom work experience includes a brief foray into public relations at Fleishman-Hillard (her cussin' upset the clients) and a hodge-podge of internships, including spells at Ingram's (Kansas City's business magazine), American Spa magazine (where she was Chief Hot-Tub Correspondent), and the tweens' quiz bible, QuizFest, in NYC.

As Editorial Operations Director, a role she took on in January 2015, Sarah is responsible for the day-to-day management of the non-news content elements on Light Reading.

Sarah received her Bachelor's in Journalism from the University of Missouri-Columbia. She lives in Chicago with her 3DTV, her iPad and a drawer full of smartphone cords.

Away from the world of telecom journalism, Sarah likes to dabble in monster truck racing, becoming part of Team Bigfoot in 2009.

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