Summary
This Form 8-K filing by Verizon Communications Inc. (VZ) reports a significant change in its Board of Directors. On December 6, 2012, the company announced the election of Kathryn A. Tesija as a new director, effective immediately. Ms. Tesija brings valuable experience to the board, currently serving as Executive Vice President for Merchandising and Supply Chain at Target Corp. Her appointment suggests a focus on strengthening the board's expertise in retail operations and supply chain management, potentially benefiting Verizon's strategic initiatives and operational efficiency.
Key Highlights
- 1Kathryn A. Tesija elected as a new director to the Verizon Board of Directors, effective immediately.
- 2Ms. Tesija's current role as Executive Vice President for Merchandising and Supply Chain at Target Corp. brings retail and supply chain expertise.
- 3Ms. Tesija will participate in the standard non-employee director compensation program.
- 4Non-employee directors receive an annual cash retainer of $100,000.
- 5Non-employee directors receive an annual grant of Verizon share equivalents valued at $150,000 on the grant date.
- 6Ms. Tesija has not yet been appointed to any Board committees.