VZ Verizon Communications Inc

   By Angela Chen 
 

Verizon Communications Inc. said board member Robert. W Lane won't stand for re-election when his term expires in May.

Mr. Lane, 65, is a former chief executive of Deere & Co. and has served on Verizon's board since 2004. He is a member of Verizon's finance committee and also sits on the boards of General Electric Co. and Northern Trust Corp.

New York-based Verizon, the nation's largest wireless carrier, has seen its profit come under pressure recently as it rolls out discounts in an effort to attract new customers.

The telecom giant is also looking to expand. Verizon CEO Lowell McAdam said last week that the company is working on building out its video business and may enter partnerships with video companies.

Write to Angela Chen at angela.chen@wsj.com

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