Verizon Type Cross-listed Public company
Verizon Industry Telecommunications
Verizon Predecessor(s) American Telephone and Telegraph Company
Verizon Founded October 7, 1983 (as Bell Atlantic)
Verizon Headquarters Verizon Building
New York City, New York, United States
Verizon Key people Lowell McAdam
(Chairman, President and CEO)
Verizon Services Fixed-line and mobile telephony, broadband and fixed-line internet services, digital television and network services
Verizon Employees 188,200 (2012)
Verizon Divisions Verizon New England,Verizon New York,Verizon Delaware,Verizon New Jersey,Verizon Pennsylvania,Verizon North,Verizon Maryland,Verizon Washington, D.C.,Verizon
Virginia, Verizon California
Verizon Website www.verizon.com
Verizon Communications Inc., headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, with more than 94 million retail customers nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries, including all of the Fortune 500. A Dow 30 company with $111 billion in 2011 revenues, Verizon employs a diverse workforce of more than 188,000.
As the world leader in delivering innovation in communications, mobility, information and entertainment, Verizon provides superior broadband, video and other wireless and wireline services to consumers, businesses, governments and wholesale customers across the globe. We operate America’s fastest 4G wireless network and provide services over America’s most advanced fiber-optic network. In addition, we deliver integrated business solutions to customers in more than 150 countries, including all of the Fortune 500.
The enduring source of Verizon's value is the central role we play in an industry vital to the global economy and deeply embedded in the lives of our customers. Whether it's through iconic products that improve people's lives, creative strategies that open new markets and expand access to technology, collaborations that promote innovation or initiatives that apply our technology to urgent social issues, Verizon is the standard-bearer for the industry and a leader in delivering the benefits of our empowering technology to the world. It's no surprise to us that we earned the No. 1 ranking in our industry in Fortune magazine's 2012 list of the World's Most Admired Companies.
For Verizon, our most exciting growth opportunities occur where business and social interests intersect. We're using our technological and philanthropic resources to address the world's unmet social and environmental needs. In the process, we're fueling the social innovation that will open new markets, drive our growth and reinforce Verizon's vital role in the digital world.
The History of Verizon Communications
Truly a 21st century company, based on the promise of a new competitive marketplace, Verizon Communications Inc. was formed on June 30, 2000, with the merger of Bell Atlantic Corp. and GTE Corp.
Verizon Communications Inc., based in New York City and incorporated in Delaware, was formed on June 30, 2000, with the merger of Bell Atlantic Corp. and GTE Corp. Verizon began trading on the New York Stock Exchange (NYSE) under the VZ symbol on Monday, July 3, 2000. It also began trading on the NASDAQ exchange under the same symbol on March 10, 2010.
The symbol was selected because it uses the two letters of the Verizon logo that graphically portray speed, while also echoing the genesis of the company name: veritas, the Latin word connoting certainty and reliability, and horizon, signifying forward-looking and visionary.
While Verizon is truly a 21st century company, the mergers that formed Verizon were many years in the making, involving companies with roots that can be traced to the beginnings of the telephone business in the late 19th century.
Government regulation largely shaped the evolution of the industry throughout most of the 20th century. Then, with the signing of the Telecommunications Act on Feb. 8, 1996, federal law directed a shift to more market-based policies. This promise of a new competitive marketplace was a driving force behind Verizon's formation.
When Verizon Communications began operations in mid-2000, the leaders of Bell Atlantic and GTE shared management responsibility for the company. Former GTE Chairman and CEO Charles R. "Chuck" Lee became Verizon's founding Chairman of the Board and co-CEO, while former Bell Atlantic CEO Ivan Seidenberg became Verizon's founding President and co-CEO. In accordance with a leadership transition plan announced at the time of the merger, Lee retired from Verizon in 2002. Seidenberg retired as Chairman and CEO in 2011 and was succeeded by Lowell C. McAdam, who became CEO in August 2011 and Chairman on Jan. 1, 2012. McAdam was Verizon’s president and COO before becoming CEO, and he was CEO of Verizon Wireless prior to that.
Verizon is a leader in delivering broadband and other communication innovations to wireline and wireless customers.
Shifts from analog to digital technology, from wired to wireless platforms, and from narrowband to broadband services are transforming traditional telephone companies into providers of full-service communications networks that deliver high-speed, mobile connectivity.