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.