NEW YORK, Oct 5 (Reuters) - Verizon Communications Inc said on Monday that it was reorganizing its landline telecom business into one group, as the traditional phone business loses customers to wireless services.
Verizon said it hoped to improve its operating performance by putting its two wireline business units -- Verizon Telecom, which serves consumers, and Verizon Business, which targets corporate clients -- into one group, Verizon Wireline.
Verizon named Fran Shammo, president of Verizon Business, as president of the realigned wireline operations and said Shammo would report directly to Verizon CEO Ivan Seidenberg.
Daniel Mead, formerly president of Verizon Telecom, will become chief operating officer of Verizon Wireless, its joint venture with Vodafone Group Plc.
Mead is replacing Jack Plating, who is retiring, and will report to Verizon Wireless CEO Lowell McAdam.
The statement made no mention of job cuts.
(Reporting by Sinead Carew; Editing by Gary Hill) Keywords: VERIZON/RESTRUCTURING (sinead.carew@thomsonreuters.com; +1 646 2236186) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Verizon said it hoped to improve its operating performance by putting its two wireline business units -- Verizon Telecom, which serves consumers, and Verizon Business, which targets corporate clients -- into one group, Verizon Wireline.
Verizon named Fran Shammo, president of Verizon Business, as president of the realigned wireline operations and said Shammo would report directly to Verizon CEO Ivan Seidenberg.
Daniel Mead, formerly president of Verizon Telecom, will become chief operating officer of Verizon Wireless, its joint venture with Vodafone Group Plc.
Mead is replacing Jack Plating, who is retiring, and will report to Verizon Wireless CEO Lowell McAdam.
The statement made no mention of job cuts.
(Reporting by Sinead Carew; Editing by Gary Hill) Keywords: VERIZON/RESTRUCTURING (sinead.carew@thomsonreuters.com; +1 646 2236186) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
