President Sets Retirement After 41-Year Career With Verizon
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The president of Verizon Communications, Lawrence T. Babbio Jr., will step down by the end of the first quarter of 2007.
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USA Today publisher Gannett Co Inc  said on Thursday that the president of its newspaper division  will retire in late May.
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Federal Communications Commission  Chairman Michael Powell said on Friday he plans to resign after  four years of mixed success in pushing a deregulatory approach  to the telecommunications and media industries.
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Jeff Raikes, the president of Microsoft&#39;s Business Division, plans to retire in September, the company said on Thursday.A Microsoft employee since 1981, Raikes oversees a broad stretch of the company&#39;s product line, including its Office, Dynamics, and Exchange software. Microsoft&#39;s Business Division generated about $16 billion in annual revenue last year, or slightly less than a third of the total.&quot;There is no overstating the incredible impact Jeff has had during his amazing career at Microsoft,&quot; CEO Steve Ballmer said in a statement.Raikes will be replaced by Stephen Elop, formerly the COO at Juniper Networks. Elop also did a stint as president of worldwide field operations at Adobe Systems following its acquisition of Macromedia, where he served as president and CEO.Elop will start at Microsoft at the end of this month and take over Raikes&#39; portfolio gradually, starting with the company&#39;s Information Worker, Business Solutions, and Unified Communications businesses.With Raikes set to retire, Bob Muglia, senior vice president of Microsoft&#39;s Server and Tools business, will now report directly to Ballmer, the company said.
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WOBURN -- Four decades ago, Bob Stott began installing wires, checking circuits, and fixing equipment at New England Telephone Co.; at the end of this month, he will step down from a leading position at Verizon Wireless , a company that has helped free people from the telephone wires he once spliced together.
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Analysis | Former president has played the lead role in taking the fight to Barack Obama.
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NEW YORK, Dec. 11  /PRNewswire/ -- Verizon Vice Chairman and President Lawrence T. Babbio Jr. has notified the Verizon Communications Inc.  Board of Directors of his intention to retire from the company by the end of the first quarter 2007.
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The phone giant&#39;s mobile unit is not just a great telecom operation. It may be one of the best companies in the world. Verizon Communications (VZ ) Chief Executive Ivan Seidenberg is a fan of management guru
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CHARLOTTESVILLE, Aug. 31 -- John William Warner, who was best known for marrying actress Elizabeth Taylor when he entered the Senate 28 years ago but who grew into an elder statesman and Republican maverick highly regarded for his expertise in defense matters, announced his retirement Friday.
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SAN FRANCISCO (CBS.MW) -- Fannie Mae&#39;s outgoing Chairman and Chief Executive Franklin Raines is set to retire with a seven-figure pension and millions in stock options, the mortgage giant said in a regulatory filing Monday.
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(InfoWorld) - Verizon Wireless Inc. President Denny Strigl has been promoted to president and chief operating officer of parent company Verizon Communications Inc., the company announced Tuesday. The chief operating officer position at Verizon Communications is a new one, and Strigl will report to Verizon Chairman and Chief Executive Officer Ivan Seidenberg beginning Jan. 1, the company said. Strigl will have responsibility for all of Verizon's network-based businesses, Verizon Wireless, Verizon Telecom and Verizon Business as well as Verizon Services Operations, which provides financial, real estate and other services to the company. Verizon Vice Chairman and President Lawrence Babbio Jr. announced Dec. 11 that he planned to retire by the end of the first quarter of 2007. Lowell McAdam, currently executive vice president and chief operating officer at Verizon Wireless, will take over as president and chief executive officer of Verizon Wireless. Independent telecom analyst Jeff Kagan called the Strigl promotion a "good move." Under Strigl, Verizon Wireless has offered excellent products and posted strong financial results, Kagan said in an e-mail. "Moving forward, the wireless business will continue to be a stand-alone provider of wireless services, but it will increasingly offer services as part of a larger bundle," Kagan added. "Verizon is growing and changing quickly as the industry does, focusing more on broadband and wireless services for growth." Separately, Verizon Communications named John Stratton, currently vice president and chief marketing officer for Verizon Wireless, to the newly created position of executive vice president and chief marketing officer, responsible for the marketing of all Verizon's business units. Shaygan Kheradpir, currently chief information officer for Verizon Telecom, has been named to the newly created position of executive vice president and chief information officer, responsible for the information technology initiatives of all Verizon's business units. McAdam, Stratton and Kheradpir will report to Strigl, effective Jan. 1. The revised management structure will allow Verizon to focus more effectively on opportunities to grow and strengthen the business, the company said in a press release. As chief operating officer, Strigl will provide a single point of accountability for all business units. Babbio will continue to report to Seidenberg, and he will help with the management transition.
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The telecom company cuts medical benefits for its retirees.
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Richard Notebaert, who took over as head of Qwest Communications as the telecommunications company coped with an accounting scandal, said Monday he will retire as chairman and chief executive officer.
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Charles E. Williams, the controversial chief of the State Department's embassy-building program, announced his retirement yesterday, effective at the end of the month.
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Tough times continue at Sprint Nextel, as the company said Thursday that three of its top executives are on their way out.CFO Paul Saleh, Chief Marketing Officer (CMO) Tim Kelly, and President of Sales and Distribution Mark Angelino will leave the company on Friday, according to Sprint Nextel. It wasn&#39;t clear if the executives were leaving voluntarily or were being let go, and company spokeswoman Leigh Horner said in an e-mail that Sprint Nextel isn&#39;t &quot;commenting further or characterizing the nature of these departures.&quot;In a press statement, Sprint Nextel President and CEO Dan Hesse thanked the three for their &quot;dedication and contributions&quot; to the company, and wished them luck in future endeavors.Sprint Nextel is looking to replace the departing executives permanently, but in the meantime their duties are being handled by existing executives.William G. Arendt, currently senior vice president and controller of Sprint Nextel, will serve as acting CFO, while John Garcia, currently senior vice president, product development and management, will serve as acting CMO. Paget Alves, currently Sprint Nextel&#39;s regional president for sales and distribution, will serve as acting president, sales and distribution. All of these executives will report directly to Hesse.The news of the executive shake-up follows the announcement last week that&#160;Sprint would be laying off 4,000 employees and the close 125 of its 1,400 retail outlets&#160;due to the net loss of more than 100,000 customers in the fourth quarter of 2007. At the end of the year, Sprint said it had 53.8 million subscribers, including 40.8 million customers of its traditional post-paid service.The company plans to announce its full fourth-quarter results on Feb. 28.While Sprint struggles, rival carrier&#160;AT&amp;T seems to be doing better, thanks to its partnership as the&#160;exclusive service provider for Apple&#39;s iPhone&#160;device. AT&amp;T&#39;s revenue was up 2.9 percent in the fourth quarter of 2007, largely driven by increases in mobile phone and broadband customers, the company announced Thursday.AT&amp;T saw a net gain of 2.7 million mobile subscribers during the quarter, and most of them came to the company through its iPhone partnership, the company said. Apple said Tuesday it sold 2.3 million iPhones during the quarter.
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Former president Bill Clinton, who came to the White House with modest means and left deeply in debt, has collected nearly $40 million in speaking fees over the past six years, according to interviews and financial disclosure statements filed by his wife, Sen. Hillary Rodham Clinton (D-N.Y.).
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William C. Mercer was the former president and chairman of the New England Telephone Company.