Verizon CFO John Killian Announces Plans to Retire After 31 Years

PR Newswire — September 13, 2010

NEW YORK, Sept. 13 /PRNewswire/ — Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced that John F. Killian, executive vice president and chief financial officer, plans to retire at around the end of the year, after 31 years with the company. A successor will be named shortly, and Killian will work closely with Verizon Chairman and CEO Ivan Seidenberg to ensure a seamless transition.

As CFO since March 2009, Killian, 55, has focused on developing an exceptionally strong financial senior management team, moving key executives into important positions that have great impact on the success of the business. He has redoubled Verizon’s focus on increasing cash flow, improving margins and demonstrating sustainable financial discipline.

“In the decades that I’ve worked with John, I have been continually impressed with his ceaseless energy, his loyalty and his love of the business,” Seidenberg said. “He has been a wonderful source of advice and counsel to me and to the rest of Verizon’s senior team. A tremendous leader with intense focus on positioning Verizon to win, he has made a significant and positive difference to Verizon. I fully respect his decision to retire in order to be closer to his family in New England, and we are delighted he will stay on board through the transition period.”

Killian said: “I am exceedingly fortunate to have had such an incredible series of opportunities at Verizon, and to have been able to help the company as a senior manager through a period of amazing transformation. This company is in a great place, prepared to move nimbly in the marketplace and adapt quickly to technological change. Verizon has superb assets and an unequaled management team that knows how to succeed. I will miss the many colleagues who have helped me throughout my career, but I also feel very good about how the company is positioned, and I know that this is the right time for me to make this personal move.”

Prior to becoming CFO, Killian was president of Verizon Business, which provides advanced network solutions to large-business and government customers. In that capacity, he led an organization of more than 31,000 employees responsible for a global network that spans six continents. Before that, he served as senior vice president and chief financial officer for Verizon’s Domestic Telecom group.

Killian began his communications career in 1979. For New England Telephone, he was president of Rhode Island and then Massachusetts from 1987 until being appointed president and chief executive officer of NYNEX CableComms Limited in the United Kingdom in 1995. He then served as group president-international telecommunications for Bell Atlantic before becoming the corporation’s vice president for investor relations.

Following the Bell Atlantic/GTE merger that formed Verizon in 2000, Killian was appointed senior vice president-customer operations. He later served as senior vice president and controller for Verizon.

Killian began his career as a certified public accountant after receiving a Bachelor of Science degree, magna cum laude, from Providence College in 1977. He also received a master’s degree from Bentley College. Killian serves on the Board of Directors at Consolidated Edison Inc. and is a trustee on the boards of Providence College and the National Urban League.

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, serving more than 92 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon last year generated consolidated revenues of more than $107 billion. For more information, visitwww.verizon.com.

VERIZON’S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon’s News Center on the World Wide Web at www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.

SOURCE Verizon Communications Inc.

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Company Codes: NYSE:VZ

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