Verizon Scouts for a 'CFO Plus': Strategic Move Towards Future Leadership

Verizon Communications Inc VZ is looking for a new finance chief who could later transition into the Chief Executive role.

The wireless company is narrowing its search for a new finance chief and focusing on outsiders who could later transition to become a candidate for its next chief executive, the Wall Street Journal reported citing people knowledgeable sources.

According to the report, Verizon is working with advisers on a "CFO Plus" search to bring on an executive to boost the organization's business performance while also expanding its pool of possible successors.

"Of course, any person that we're looking for a senior position at Verizon, we would look for that person to potentially go higher," spokesman Jim Gerace stated.

In March, the company announced several executive management changes. Matt Ellis, the CFO since 2016, left the company in May. 

Verizon named Senior Vice President & Controller Tony Skiadas as the new CFO.

Price Action: VZ shares are trading higher by 0.02% at $35.62 on the last check Tuesday.

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