Verizon Communications set the stage Monday for the potential successor to current CEO Ivan Seidenberg with the selection of Lowell McAdam as the company’s president and chief operating officer (COO). Seidenberg, who has led the nation’s second-largest fixed line telecom carrier since it was born from the merger of Bell Atlantic and GTE in 2000, is expected to retire next year, and a Verizon spokesman characterized McAdam’s appointment as “an important step in the succession process.” Sources also say that the naming of McAdam, the CEO of Verizon Wireless, as the parent company’s president signifies the importance of Verizon’s wireless operations to the carrier’s future. Since McAdam assumed the leadership of Verizon Wireless—the nation’s largest mobile telephony firm—in 2006, the carrier’s revenues have nearly doubled from $38 billion per year to more than $62 billion in 2009. Over the same period, subscribership at Verizon Wireless has also surged from 59.1 million to 91.2 million customers. As president and COO, McAdam will fill executive seats at Verizon Communications that have been vacant since former president and COO Dennis Stirgl retired from the company in 2009. While reporting directly to Seidenberg, McAdam will oversee wireline and wireless operations at Verizon as well as the company’s service operations and technology. Daniel Mead, now the executive vice president and COO of Verizon Wireless, will succeed McAdam as Verizon Wireless CEO, and current Verizon Wireless chief marketing officer John Stratton will replace Mead as Verizon Wireless COO. Following on the announced retirement of Verizon Communications Chief Financial Officer (CFO) John Killian, officials also confirmed the appointment of Verizon Telecom and Business president Francis Shammo as the company’s new CFO.