Verizon Exec Will Share “Synergy Savings” Strategies
Daniel S. Mead, president of Verizon Services Corp., will discuss how creation of a centralized business services unit saved the telecommunications giant $562 million in one year during an upcoming presentation for the Sam and Irene Black School of Business.
Mead, a Warren native and member of the college’s Council of Fellows, will speak at 6:00 p.m. on Tuesday, January 22, in the Samuel P. “Pat” Black III Conference Center in the college’s Research and Economic Development Center. Admission to his talk is free and open to the public.
In April, Verizon Services was awarded the prestigious honor of “Best New Shared Services Organization” by the Shared Services & Outsourcing Network. Mead’s Penn State Behrend talk will be adapted from a keynote address he gave at The Hackett Group’s 2007 Best Practices Conference.
Mead was appointed to lead Verizon Services at its creation in October 2005. Headquartered in Basking Ridge, N.J., it is a $3 billion business unit intended to create synergy savings through central management of finance, real estate, information technology, and supply chain services for all Verizon companies. The unit’s responsibilities include finance operations that annually process $144 billion in transactions; a real estate portfolio of 32,000 buildings; $33 billion in procurement; a fleet of 60,000 vehicles; warehouse and transportation operations; and hundreds of mission-critical IT operating systems.
As a direct report to Verizon President and COO Dennis Strigl and a member of the Chairman’s Operations Council, Mead plays a lead strategy role in efforts to transform Verizon’s cost structure. He also co-chairs the company’s Corporate Responsibility and Workplace Culture Council.
The Sam and Irene Black School of Business at Penn State Behrend offers one associate, nine baccalaureate and two graduate degree programs, as well as two certificates in financial planning and SAP. The Black School of Business is accredited by AACSB International—The Association to Advance Collegiate Schools of Business, which is the leading accrediting agency for bachelor’s, master’s and doctoral degree programs in business administration and accounting.