Laxman Narasimhan Elected to Verizon Board of Directors
On June 25, 2021, Verizon Communications Inc. (NYSE: VZ) announced the election of Laxman Narasimhan to its Board of Directors effective July 1, 2021. Narasimhan, CEO of Reckitt Benckiser, brings significant expertise in consumer services and global operations. His addition will expand Verizon's board to ten members, nine of whom are independent. The company aims to leverage his experience as it accelerates 5G adoption and expands its business. Verizon reported revenues of $128.3 billion in 2020, positioning itself as a leading provider of technology and communication services.
- Laxman Narasimhan's expertise in consumer services and global operations may enhance Verizon's strategic development.
- The addition of Narasimhan could strengthen the board's leadership as Verizon accelerates 5G adoption.
- Concerns about continuity and experience gaps due to changing board composition.
BASKING RIDGE, N.J., June 25, 2021 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced the election of Laxman Narasimhan, to the Verizon Board of Directors, effective July 1, 2021. Laxman is Chief Executive Officer of Reckitt Benckiser Group Plc (‘Reckitt’), a FTSE 12 listed British multinational consumer health, hygiene and nutrition company. He also serves as a director of Reckitt.
“As we continue to accelerate 5G adoption by consumers, execute on our Network-as-a-service strategy and grow Verizon’s business into new markets, Laxman’s expertise in consumer services, global operations and strategic development will have an immediate impact on our board and the evolution of our business” said Hans Vestberg, Verizon Chairman and Chief Executive Officer.
The addition of Mr. Narasimhan will bring Verizon’s total board membership to ten, nine of whom are independent, effective July 1, 2021.
Previously, Mr. Narasimhan served as PepsiCo’s Group Chief Commercial Officer until July 2019, and prior to that beginning in 2012 served as Chief Executive Officer - Latin America, Europe and Sub-Saharan Africa, Chief Executive Officer - Latin America, and Chief Financial Officer of PepsiCo Americas Foods. Prior to joining PepsiCo in 2012, Mr. Narasimhan spent 19 years at McKinsey & Company, where he focused on its consumer, retail and technology practices in the U.S., Asia and India.
Laxman is a trustee of the Brookings Institution, a member of the Council on Foreign Relations and a member of the UK Prime Minister's Build Back Better Council. He holds a degree in Mechanical Engineering from the College of Engineering, University of Pune, India. He has an MA in German and International Studies from the University of Pennsylvania and an MBA from The Wharton School of The University of Pennsylvania.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of
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