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Verizon CFO Francis Shammo announces plans to retire

Francis J. ShammoVerizon Communications Inc. announced that Francis J. Shammo plans to retire at the end of 2016 after 27 years with the company.

Prior to his retirement, Mr. Shammo will step down as executive vice president and chief financial officer, effective November 1.

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Mr. Shammo was appointed Verizon CFO in November 2010, with responsibility for the company’s finance and strategic planning operations, and financial transaction services.

Before 2010, he was president and chief executive officer of Verizon Telecom and Business.

Previously, he was president of Verizon Business (now Verizon Enterprise Solutions), and prior to that he served as senior vice president and chief financial officer for Verizon Business.

Mr. Shammo had also served as president - West area for Verizon Wireless, and he was vice president and controller at the time of Verizon Wireless’ launch in 1999. He joined predecessor company Bell Atlantic Mobile in 1989.

Verizon’s Board of Directors appointed Matthew D. Ellis to succeed Mr. Shammo as executive vice president and CFO.

Mr. Ellis is currently senior vice president and CFO - Operations Finance, responsible for providing financial support to Verizon’s wireless and wireline business units.

Prior to Mr. Ellis’ current role of providing financial leadership for Verizon’s business units, he was senior vice president and treasurer for Verizon, responsible for corporate-wide financing, cash management, pension and insurance activities, as well as the Verizon Capital Group.

Mr. Ellis joined Verizon in 2013, after having spent 15 years at Tyson Foods, Inc. in a variety of roles. At Tyson, he was vice president and treasurer, responsible for financing, cash management, insurance and credit.

From 2007 through 2010, he was vice president - Finance, where he was involved in merger and acquisition activity, including transactions in China, Brazil and India. From 2005 to 2007, he was vice president - Country Manager, with responsibility for all aspects of Tyson’s Mexico subsidiary.

Previously, Mr. Ellis worked in England for Dixons Stores Group PLC and Coopers & Lybrand, where he qualified as a Chartered Accountant.

Mr. Ellis holds a Bachelor of Commerce (Accounting) degree from the University of Birmingham in the United Kingdom.




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