Verizon Elects Vittorio Colao to Its Board of Directors

NEW YORK, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced the election of Vittorio Colao to the Verizon Board of Directors, effective November 4, 2022. Mr. Colao was the Italian Minister for Innovation, Digital Transition and Space from February 2021 to October 2022. In this role, he led Italy's efforts to roll out broadband and 5G connectivity across the country.

He is the former Chief Executive of Vodafone Group Plc, a global mobile communications company, from 2008 to 2018. During his long tenure with the Vodafone Group beginning in 1999, Colao held numerous executive positions, including serving as the Regional Chief Executive Officer for Southern Europe, Middle East and Africa. He served on the Vodafone Board from 2006 to 2018.

Colao served on Verizon’s Board of Directors from 2019 to February 2021, prior to his appointment as Minister in the Italian Cabinet. He has unique insight into Verizon’s wireless business as a result of his five-year tenure on the Verizon Wireless Board of Representatives when Verizon Wireless was a joint venture between Verizon and Vodafone. The Board has appointed him to the Corporate Governance and Policy Committee and the Finance Committee.

Hans Vestberg, Verizon Chairman and Chief Executive Officer said, “We are thrilled to have Vittorio rejoin our Board as we execute our 5G strategy. He is an outstanding leader who brings to Verizon a wealth of telecommunications expertise. He built and transformed Vodafone through organic growth, acquisitions and sales into one of the world’s largest communications companies with mobile operations in 24 countries and partnerships in over 40 more countries. With his deep understanding of the wireless industry, successful tenure as CEO, and government experience, he will strengthen the expertise of the Board and be a tremendous asset to Verizon.

The addition of Vittorio Colao brings Verizon’s total board membership to 12, eleven of whom are independent, effective November 4, 2022.

Mr. Colao served as a director of Unilever PLC and Unilever N.V. from 2015 to 2021.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $133.6 billion in 2021. 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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Kim Ancin