Roxanne S. Austin Elected to Verizon Board of Directors

Rhea-AI Summary

Verizon Communications has elected Roxanne S. Austin to its Board of Directors, effective immediately. Austin, CEO of Austin Investment Advisors, brings decades of experience in finance and technology, having served on various boards, including Abbott Laboratories and AbbVie. She is recognized for her leadership in corporate governance, previously holding top positions at Move Networks and DIRECTV. Verizon, a leading technology and communications provider, reported revenues of $131.9 billion in 2019 and continues to strengthen its strategic direction with skilled leadership.

Positive

• Roxanne S. Austin brings extensive audit, finance, and executive experience to Verizon's board.
• Her expertise in finance and cyber security is expected to enhance Verizon's strategic focus in technology.

Negative

• Austin's departure from Teledyne may raise concerns about her commitment given multiple board roles.

BASKING RIDGE, N.J., Oct. 02, 2020 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced the election of Roxanne S. Austin to the Verizon Board of Directors, effective immediately. Ms. Austin is President and Chief Executive Officer of Austin Investment Advisors, a private investment and consulting firm, and chairs the U.S. Mid-Market Investment Advisory Committee of EQT Partners. Ms. Austin also serves on the Board of Directors of Abbott Laboratories Inc., AbbVie, Inc., CrowdStrike Inc. and Teledyne Technologies, Inc. Ms. Austin has notified Teledyne of her intent to resign from its Board of Directors at the company’s next annual meeting of stockholders currently planned for April, 2021.

She was named 2018 Director of the Year – Corporate Leadership and Service by the Forum for Corporate Directors and one of the most influential directors in the board room by the National Association of Corporate Directors in 2013. She is co-chair of the annual Corporate Governance Conference at Northwestern’s Kellogg School of Management.

“Roxanne is a highly experienced leader who brings to Verizon several decades of audit, finance, operating and executive experience in a range of technology industries, as well as distinguished service as a director at a diverse group of public companies,” said Hans Vestberg, Verizon Chairman and Chief Executive Officer. “We are excited to welcome Roxanne to our board and know that her strong expertise in finance, strategic planning and cyber security and her knowledge of telecommunications and media will be extremely valuable as we continue to focus on our strategic direction as a technology leader.”

Ms. Austin becomes the tenth member of Verizon’s board.

Previously, Ms. Austin was the President and Chief Executive Officer of Move Networks, an IP-based television delivery service. She also served as the President and Chief Operating Officer of DIRECTV, a digital television entertainment service. Prior to that, Austin was the Executive Vice President and Chief Financial Officer of Hughes Electronics Corporation. She was a partner of Deloitte and Touche before joining Hughes. She received a B.B.A. in Accounting and Business Administration, summa cum laude, from the University of Texas at San Antonio.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is celebrating its 20th year as 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 $131.9 billion in 2019. The company offers data, video and voice services and solutions on its award winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

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Media contact:
Kim Ancin
Kimberly.ancin@verizon.com
908-801-0500

FAQ

What is the significance of Roxanne S. Austin joining Verizon's Board of Directors?

Roxanne S. Austin's election brings valuable experience in finance and technology, strengthening Verizon's strategic leadership.

When did Roxanne S. Austin join Verizon’s Board of Directors?

Roxanne S. Austin was elected to Verizon's Board of Directors effective immediately on October 2, 2020.

What previous positions has Roxanne S. Austin held before joining Verizon?

Austin previously served as CEO of Move Networks and COO of DIRECTV, with significant roles in finance at Hughes Electronics Corporation.

How does Verizon plan to benefit from Roxanne S. Austin's expertise?

Verizon aims to leverage Austin's experience in finance, strategic planning, and cyber security to enhance its business strategies.