Summary
This 8-K filing from Verizon Communications Inc. (VZ) announces a change to its Board of Directors. Effective March 1, 2013, Gregory D. Wasson, President and CEO of Walgreen Co., has been elected as a new director. Mr. Wasson's appointment brings a new executive perspective to the board, and he will be compensated under the company's standard non-employee director compensation program. This includes an annual cash retainer of $100,000 and an annual grant of Verizon share equivalents valued at $150,000 on the grant date. While he is a new addition, he has not yet been assigned to any board committees.
Key Highlights
- 1Verizon Communications Inc. elected Gregory D. Wasson as a new director to its Board of Directors.
- 2Mr. Wasson's appointment is effective March 1, 2013.
- 3He currently serves as President and Chief Executive Officer of Walgreen Co.
- 4Mr. Wasson will be compensated according to Verizon's non-employee director compensation program.
- 5The compensation includes an annual cash retainer of $100,000.
- 6The compensation also includes an annual grant of Verizon share equivalents valued at $150,000 on the grant date.
- 7Mr. Wasson has not yet been appointed to any board committees.
Frequently Asked Questions
The new director elected to Verizon's Board is Gregory D. Wasson, who is also the President and Chief Executive Officer of Walgreen Co.
The appointment of Gregory D. Wasson to the Board of Directors is effective March 1, 2013.
Mr. Wasson will receive compensation consistent with other non-employee directors, which includes an annual cash retainer of $100,000 and an annual grant of Verizon share equivalents valued at $150,000 on the grant date.
As of the filing date, Mr. Wasson has not yet been named to a Board committee.