Summary
Verizon Communications Inc. (VZ) announced a significant leadership transition in its finance department via an 8-K filing on March 3, 2023. The key development is the appointment of Anthony T. Skiadas, currently Senior Vice President and Controller, to succeed Matthew D. Ellis as Executive Vice President and Chief Financial Officer, effective May 1, 2023. This transition marks a change in financial leadership for the company, with Mr. Ellis departing Verizon on the same date. Alongside Mr. Skiadas' promotion, Mary-Lee Stillwell has been appointed as the new Senior Vice President and Controller, also effective May 1, 2023. The company also announced the immediate appointment of Kyle Malady as Executive Vice President and Group CEO - Verizon Business. These appointments, particularly the CFO transition, are crucial for investors to monitor as they signal potential shifts in financial strategy and operational focus.
Key Highlights
- 1Anthony T. Skiadas appointed as Executive Vice President and Chief Financial Officer, succeeding Matthew D. Ellis, effective May 1, 2023.
- 2Matthew D. Ellis will depart Verizon on May 1, 2023.
- 3Mary-Lee Stillwell appointed as Senior Vice President and Controller, succeeding Anthony T. Skiadas, effective May 1, 2023.
- 4Significant compensation increases for both Mr. Skiadas and Ms. Stillwell upon their new appointments.
- 5Kyle Malady appointed as Executive Vice President and Group CEO - Verizon Business, effective immediately.
- 6Mr. Malady will no longer serve as Executive Vice President and President - Global Networks & Technology.