Following surprise word that Verizon CEO Lowell McAdam was retiring and being succeeded by CTO Hans Vestberg, another top Verizon exec has set his exit from the telecom giant.
RELATED: Hans Vestberg to Succeed Lowell McAdam as Verizon CEO
Verizon said Friday that John Stratton, EVP and president of global operations, has announced plans to retire from the company by year-end.
Stratton, 57, is stepping down from his current role and, to “support a smooth transition,” will serve as a strategic adviser reporting to McAdam, the company said.
Stratton had emerged as a lead contender for the top spot at Verizon, according to The Wall Street Journal.
Stratton has been with Verizon and its predecessor, Bell Atlantic Mobile, for more than 25 years, and is on the board of the CTIA.
“As one of the founding leaders of Verizon Wireless, John has left his mark on the business. He has been at the forefront of our evolving strategy and is one of the key people responsible for setting the strong foundation that we are building on today,” McAdam said in a statement. “Through his determination, drive and commitment to the business, John led some of our most creative and innovative efforts during the fastest growth period in Verizon’s history, including the iconic ‘Can you hear me now?’ advertising campaign and the development of the Droid handset franchise.”
“It has been an honor to be a leader at Verizon alongside so many brilliant and committed V Teamers – all of whom put the customer and our company first. I am incredibly proud of the strides we have made to position Verizon as the leader in customer service and on the forefront of next-generation technologies, including 5G,” Stratton added. “I look forward to watching Verizon’s continued success.”
