Verizon Names New COO, Inks Nortel Deal

Verizon Communications named Denny Strigl as president and chief operating officer.

Strigl, currently the president of Verizon Wireless, a joint venture co-owned with Vodafone, will report directly to the chief executive officer.

Lowell McAdam, Verizon Wireless executive vice president and chief operating officer, will be the unit's new president and chief executive officer.

Also Tuesday, Canadian telecom equipment giant Nortel Networks said it has signed an expected $2 billion deal (C$2.32 billion) with Verizon Wireless, in which it will supply technology and services to expand Verizon's network.

The five-year agreement is aimed at expanding the quality and reach of Verizon's network in the United States.