Verizon Promotes Legal Chief to New Global Services Presidency

Verizon Communications Inc. is promoting general counsel Craig Silliman to the new role of president of global services, including real estate, supply chain, finance, technology, security and public policy, the company announced Tuesday.

Deputy counsel Vandana Venkatesh will replace Silliman as legal chief, Verizon said.

“These moves will accelerate our efforts to drive efficiencies, enabling us to reinvest savings in network superiority and customer growth,” Hans Vestberg, Verizon’s chief executive officer, said in a statement.

Verizon, which lowered its annual forecast in July on account of lower customer spending and more competition, said it will discuss the economic benefits of Verizon Global Services on Oct. 21 when it reports its third-quarter earnings.

Silliman, an 11-year veteran of Verizon, has held several posts at the company which last year had revenues of $133.6 billion.

Venkatesh, a 19-year Verizon veteran, began her legal career as an associate at former law firm Bingham McCutchen.

Vestberg said she “is a proven leader with extensive experience across a variety of legal functions and business units.”