Business

McAdam Combines Collaboration With Cash to Woo Vodafone

[Bloomberg]

vodafone_verizon-300x162

Verizon Communications Inc. (VZ) set the stage for the $130 billion buyout of Vodafone Group Plc (VOD)’s stake in their U.S. venture two years ago, when it named a new chief executive officer: Lowell McAdam, a 20-year veteran of the wireless industry with long-standing ties to Europe.

Executives at Verizon had been haggling to seal the deal for a decade, rebuffed by Vodafone counterparts who balked at parting with their share of the most profitable U.S. wireless carrier. Vodafone’s top brass also clashed with Verizon’s then-CEO, Ivan Seidenberg, a former cable splicer from the Bronx whose brusque manner failed to win over the Europeans.

Enter McAdam, a soft-spoken Ivy League-educated engineer who had worked with Vodafone CEO Vittorio Colao since the 1990s. From the start, McAdam vowed to make expanding the wireless business his top priority. He adopted a more collaborative relationship with suppliers, such as mobile-phone makers. His demeanor, familiarity with Vodafone executives and willingness to pony up cash reinvigorated the talks.

READ MORE

Tags
Show More

Related Articles

Back to top button

My News Matters to me - Washington Informer Donations

Be a Part of The Washington Informer Legacy

A donation of your choice empowers our journalists to continue the work to better inform, educate and empower you through technology and resources that you use.

Click Here Today to Support Black Press and be a part of the Legacy!

Subscribe today for free and be the first to have news and information delivered directly to your inbox.

Select list(s) to subscribe to


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker