Verizon CFO Fran Shammo Retiring Nov. 11 Sep, 2016 By: Erik Gruenwedel
Verizon Sept. 1 announced that longtime CFO Fran Shammo is retiring after 27 years, effective Nov. 1. The 55-year-old executive, who became CFO in 2010 after joining Verizon predecessor Bell Atlantic Mobile in 1989, has been an industry mainstay, singularly representing the telecom on fiscal calls and at investor confabs.
"This is a great time for me to make this personal move,” Shammo said in a statement.
He will be replaced by SVP, CFO Matt Ellis, who currently spearheads operating finance for Verizon’s wireless and wireline (Fios) business units. The 45-year-old Ellis joined Verizon in 2013 following a 15-year stint at Tyson Foods.
He will report to CEO Lowell McAdam.