Verizon elects Caroline A. Litchfield to its Board of Directors
Verizon Communications Inc. has elected Caroline A. Litchfield, Executive Vice President and Chief Financial Officer of Merck, to its Board of Directors, effective October 1, 2024. Litchfield's extensive 34-year career at Merck includes roles such as EVP and CFO since 2021, SVP and Treasurer (2019-2021), and finance leader for Human Health (2014-2018). She brings significant expertise in financial operations, strategic planning, and mergers and acquisitions. This addition brings Verizon's board to 11 members. Verizon, a leader in network connectivity and security, reported $134 billion in revenue in 2023.
- Caroline A. Litchfield's addition to the board is expected to enhance financial and strategic planning expertise.
- Litchfield's experience with mergers and acquisitions could benefit Verizon's growth strategies.
- A potential risk is the continuity gap as Litchfield transitions from Merck to Verizon, which may temporarily affect board dynamics.
NEW YORK, June 27, 2024 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced the election of Caroline A. Litchfield, Executive Vice President and Chief Financial Officer of Merck & Co., Inc., to the Verizon Board of Directors, effective October 1, 2024.
“Caroline is an accomplished leader who brings to Verizon significant financial, strategic planning and risk management expertise acquired during her 34-year career at Merck. She has deep experience in finance, business operations, stakeholder management, and value creation and delivery. She has also helped to transform Merck’s portfolio through mergers and acquisitions,” said Verizon Chairman and CEO Hans Vestberg. “We are very pleased to have Caroline join our board.”
The addition of Ms. Litchfield will bring Verizon’s total board membership to 11, effective October 1, 2024.
Ms. Litchfield has served as Merck’s Executive Vice President and Chief Financial Officer since 2021 and is responsible for its finance, investor relations, procurement and facilities operations management. She served as Senior Vice President and Treasurer of Merck from 2019 to 2021, a position that included responsibility for treasury, tax and investor relations. From 2014 to 2018, Ms. Litchfield led finance for Human Health, Merck’s largest business, overseeing financial operations and reporting in approximately 100 markets. Previously, she was the vice president and finance lead for Merck’s Emerging Markets region when it was established in 2009 following the merger of Merck and Schering-Plough and was instrumental in integrating the two companies. She joined Merck in 1990 in its U.K. business and has held a wide range of positions of increasing responsibility in the company’s country, regional and global finance functions.
Ms. Litchfield holds a B.S. in Mathematics from the University of Leicester and is a fellow of the Chartered Institute of Management Accountants.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of
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FAQ
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