Verizon appoints new CFO

Verizon Communications Inc. (NYSE: VZ) (NASDAQ: VZ) has appointed Matthew D. Ellis to replace Francis J. Shammo as CFO after Shammo retires at the end of 2016, the company said.

The company said Shammo will step down as executive vice president and chief financial officer, effective Nov. 1, and Ellis, who is currently senior vice president and CFO of operations finance will step into his new role.

Prior to 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. He joined Verizon in 2013, after having spent 15 years at Tyson Foods, Inc. in a variety of roles.

Verizon Communications Inc. is a wireless network with 113.2 million retail connections in the US. The company generated nearly USD132 billion in 2015 revenues.