Chairman of the Executive Board and CEO of Merck KGaA Karl-Ludwig Kley elected to Verizon Board of Directors

Nov 05, 2015, 13:00 ET from Verizon Communications Inc.

NEW YORK, Nov. 5, 2015 /PRNewswire/ -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced the election of Dr. Karl-Ludwig Kley, chairman of the executive board and chief executive officer of Merck KGaA, to the Verizon Board of Directors, effective November 5.

"Karl is an accomplished executive who brings to Verizon significant leadership experience as CEO of an innovative, global operation that is navigating a highly competitive, complex and rapidly changing ecosystem. He has extensive expertise in corporate finance and critical capabilities in strategy and operations," said Lowell McAdam, Verizon chairman and chief executive officer. "We are very pleased to have Karl join our board."

The addition of Kley brings Verizon's total board membership to 13.

Kley has been chief executive officer and chairman of the executive board of Merck KGaA in Darmstadt, Germany since 2007. Prior to this, he was appointed vice chairman of the executive board in September 2006. Before joining Merck KGaA, Kley was a member of the executive board of Deutsche Lufthansa AG from 1998 to 2006, where he served as chief financial officer. From 1982 to 1998, Kley worked for Bayer AG in a variety of positions, including as head of corporate finance and investor relations.

Kley holds a J.D. from the University of Munich.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) employs a diverse workforce of 177,900 and generated more than $127 billion in 2014 revenues. Verizon Wireless operates America's most reliable wireless network, with 110.8 million retail connections nationwide. Headquartered in New York, Verizon also provides communications and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers worldwide. For more information, visit www.verizon.com/news/.

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SOURCE Verizon Communications Inc.



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