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Women's Business Enterprise National Council Again Names Verizon a Top American Corporation

Posted on: Thursday, 26 March 2009, 11:37 CDT

Committed to Working With Minority- and Women-Owned Businesses, Verizon Spent $3.5 Billion With Diverse Suppliers in 2008

NEW YORK, March 26 /PRNewswire/ -- For the fourth consecutive year, Verizon has been named to the Women's Business Enterprise National Council annual list of America's Top Corporations for Women's Business Enterprise.

The WBENC's list recognizes corporations for world-class programs that create level playing fields for women's business enterprises to compete for corporate contracts. In 2008 alone, Verizon conducted $3.5 billion worth of business with diverse suppliers including women-owned businesses.

Verizon's Supplier Diversity Program was established more than two decades ago. It works to create mutually beneficial business relationships with a diverse body of suppliers. This strengthens communities and creates value for shareholders. Verizon has consistently met its goal of increasing year-over-year spending with companies owned and managed by minorities, women, people with disabilities and Vietnam-era and service-disabled veterans (MWDVBE).

"This consistency of excellence demonstrates that once a company embeds best practices in its organization and its culture, it can sustain and enhance its success year after year," said Linda Denny, president and CEO of WBENC.

Through a variety of channels including strategic national, regional and local partnerships with a variety of community and business organizations, Verizon's Supplier Diversity program reaches out to MWDVBE-owned businesses. The company then matches prospective suppliers' competencies with Verizon's business needs. Verizon's Second Tier/Prime Supplier Program has traditionally enhanced opportunities for women-owned businesses by continually increasing the number of prime suppliers participating in the program and encouraging the use of women and minority suppliers as subcontractors.

Verizon is also a charter member of the Billion Dollar Roundtable, a group organized to promote research, education and best practices in supply-chain diversity.

Women hold 28 percent of the senior management positions at Verizon, including key roles in designing and operating Verizon's advanced broadband and global IP networks.

Earlier this year, Verizon was named to the National Association for Female Executives' 2009 list of Top 50 Companies for Executive Women, which spotlights corporations with practices and employment records that benefit women and encourage their advancement to top management positions.

In 2008, Verizon earned a number of honors for its family-friendly policies and benefits and was recognized as a workplace of choice for women. The recognition includes:

• The only telecommunications or cable company on Working Mother magazine's list of 100 Best Companies for Working Mothers.
• Conceive magazine's list of Top 50 Companies for fertility- and adoption-friendly workplaces.
• Best Adoption-Friendly Workplaces, the Dave Thomas Foundation for Adoption.
• LATINA Style magazine ranked Verizon among the Best Companies for Latinas to Work for the sixth consecutive year.

The WBENC is a leading authority on, and advocate for, women's business enterprises as vendors and suppliers to the nation's leading corporations. The America's Top Corporations for Women's Business Enterprises Awards presentation takes place Thursday evening (March 26) in Washington, D.C., during the WBENC's 2009 Summit and Salute to Women's Business Enterprise. Tanya Penny, Verizon vice president for sourcing and procurement operations, and Delores Johnson-Cooper, director of supplier diversity for Verizon, will accept the award for Verizon.

Verizon Communications Inc. (NYSE: VZ), headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 80 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of nearly 224,000 and last year generated consolidated operating revenues of more than $97 billion. For more information, visit www.verizon.com.

VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.

SOURCE Verizon

Source: PR Newswire

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