With Verizon's (NYSE: VZ) chief financial officer John Killian announcing earlier this week that he would retire from the company at the end of the year, industry watchers are speculating that Lowell McAdam, Verizon Wireless' CEO, could take the CEO post when current CEO Ivan Seidenberg retires.
As reported in the Wall Street Journal, both Killian and McAdam were named as possible heirs to the Verizon throne.
During an investor conference this week, Killian said that while Seidenberg, who will turn 64 in December, will likely retire when he turns 65.
Upon announcing his retirement after 31 years with the company, Killian said that he "didn't want to have the board and Ivan get too far down the road" because he was going to leave the telco.
Given Verizon's focus on revenue and service growth, naming McAdam as a successor to the CEO post isn't that far-fetched. Since he took over Verizon Wireless in 2006, he has been able to grow not only the wireless operators' revenue from $38 billion to $62.1 billion in 2009, but also its subscriber base from 59.1 million in 2006 to 91.2 million in 2009.
- Wall Street Journal has this article (sub req.)
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