Verizon Shareholders Elect Directors, Ratify Auditor And Consider Other Proposals at Annual Meeting

First Shareholder Meeting Since Company was Created



Apr 25, 2001, 01:00 ET from Verizon Communications

    NEW YORK, April 25 /PRNewswire/ -- Verizon Communications announced the
 results of its annual meeting of shareholders held today in Memphis, Tenn.
 This was the company's first shareholder meeting since the merger of Bell
 Atlantic and GTE June 30, 2000 to form Verizon.
     Verizon shareholders re-elected the 16 members of the company's board of
 directors, ratified the appointment of Ernst & Young LLP as Verizon's
 independent auditor, approved both a long-term and short-term incentive plan,
 and defeated four shareholder proposals.
     The 16 members of Verizon's board of directors, who were elected upon the
 merger of Bell Atlantic and GTE, were re-elected for additional one-year
 terms.  They are:
 
      -- James. R. Barker, chairman of Interlake Steamship Co. and vice
          chairman of Mormac Marine Group, Inc. and Moran Towing Corporation.
      -- Edward H. Budd, retired chairman, The Travelers Corporation
      -- Richard L. Carrion, chairman, president and CEO, Popular, Inc. and
          Banco Popular de Puerto Rico.
      -- Robert F. Daniell, retired chairman, United Technologies Corporation
      -- Helene L. Kaplan, of Counsel to the law firm of Skadden, Arps, Slate,
          Meagher & Flom LLP
      -- Charles R. Lee, chairman and co-CEO, Verizon Communications
      -- Sandra O. Moose, senior vice president and director of The Boston
          Consulting Group, Inc.
      -- Joseph Neubauer, chairman and CEO, ARAMARK Corporation.
      -- Thomas H. O'Brien, chairman, The PNC Financial Services Group, Inc.
      -- Russell E. Palmer, chairman and CEO, The Palmer Group
      -- Hugh B. Price, president and CEO, National Urban League
      -- Ivan G. Seidenberg, president and co-CEO, Verizon Communications
      -- Walter V. Shipley, retired chairman and CEO, The Chase Manhattan
          Corporation.
      -- John W. Snow, chairman, president and CEO, CSX Corporation
      -- John R. Stafford, chairman and CEO, American Home Products Corporation
      -- Robert D. Storey, partner, law firm of Thompson, Hine & Flory LLP.
 
     Verizon Communications (NYSE:   VZ) is one of the world's leading providers
 of communications services.  Verizon companies are the largest providers of
 wireline and wireless communications in the United States, with 112 million
 access line equivalents and 27 million wireless customers.  Verizon is also
 the largest directory publisher in the world.  A Fortune 10 company with
 approximately 260,000 employees and more than $65 billion in annual revenues,
 Verizon's global presence extends to 40 countries in the Americas, Europe,
 Asia and the Pacific. For more information on Verizon, visit
 http://www.verizon.com.
 
     ON THE INTERNET: Verizon news releases, executive speeches and
 biographies, news media contacts and other information are available at
 Verizon's News Center on the World Wide Web (http://www.verizon.com/news). To
 receive news releases by email, visit the News Center and register for
 personalized automatic delivery of Verizon news releases.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X10247175
 
 

SOURCE Verizon Communications
    NEW YORK, April 25 /PRNewswire/ -- Verizon Communications announced the
 results of its annual meeting of shareholders held today in Memphis, Tenn.
 This was the company's first shareholder meeting since the merger of Bell
 Atlantic and GTE June 30, 2000 to form Verizon.
     Verizon shareholders re-elected the 16 members of the company's board of
 directors, ratified the appointment of Ernst & Young LLP as Verizon's
 independent auditor, approved both a long-term and short-term incentive plan,
 and defeated four shareholder proposals.
     The 16 members of Verizon's board of directors, who were elected upon the
 merger of Bell Atlantic and GTE, were re-elected for additional one-year
 terms.  They are:
 
      -- James. R. Barker, chairman of Interlake Steamship Co. and vice
          chairman of Mormac Marine Group, Inc. and Moran Towing Corporation.
      -- Edward H. Budd, retired chairman, The Travelers Corporation
      -- Richard L. Carrion, chairman, president and CEO, Popular, Inc. and
          Banco Popular de Puerto Rico.
      -- Robert F. Daniell, retired chairman, United Technologies Corporation
      -- Helene L. Kaplan, of Counsel to the law firm of Skadden, Arps, Slate,
          Meagher & Flom LLP
      -- Charles R. Lee, chairman and co-CEO, Verizon Communications
      -- Sandra O. Moose, senior vice president and director of The Boston
          Consulting Group, Inc.
      -- Joseph Neubauer, chairman and CEO, ARAMARK Corporation.
      -- Thomas H. O'Brien, chairman, The PNC Financial Services Group, Inc.
      -- Russell E. Palmer, chairman and CEO, The Palmer Group
      -- Hugh B. Price, president and CEO, National Urban League
      -- Ivan G. Seidenberg, president and co-CEO, Verizon Communications
      -- Walter V. Shipley, retired chairman and CEO, The Chase Manhattan
          Corporation.
      -- John W. Snow, chairman, president and CEO, CSX Corporation
      -- John R. Stafford, chairman and CEO, American Home Products Corporation
      -- Robert D. Storey, partner, law firm of Thompson, Hine & Flory LLP.
 
     Verizon Communications (NYSE:   VZ) is one of the world's leading providers
 of communications services.  Verizon companies are the largest providers of
 wireline and wireless communications in the United States, with 112 million
 access line equivalents and 27 million wireless customers.  Verizon is also
 the largest directory publisher in the world.  A Fortune 10 company with
 approximately 260,000 employees and more than $65 billion in annual revenues,
 Verizon's global presence extends to 40 countries in the Americas, Europe,
 Asia and the Pacific. For more information on Verizon, visit
 http://www.verizon.com.
 
     ON THE INTERNET: Verizon news releases, executive speeches and
 biographies, news media contacts and other information are available at
 Verizon's News Center on the World Wide Web (http://www.verizon.com/news). To
 receive news releases by email, visit the News Center and register for
 personalized automatic delivery of Verizon news releases.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X10247175
 
 SOURCE  Verizon Communications

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