Manhattan College Honors Frederic V. Salerno ’65, Retired Vice Chairman And Chief Financial Officer Of Verizon, At Annual De La Salle Medal Fundraiser

De La Salle Medal Dinner raises record $1.475 million for Manhattan College

RIVERDALE, N.Y. – Manhattan College presented Frederic V. Salerno ’65, retired vice chairman and chief financial officer of Verizon, with the De La Salle Medal at the College’s annual fundraising dinner on Wednesday, Jan. 16, at The Waldorf=Astoria in New York City.

The College raised more than $1.475 million, the highest total in the 32-year history of the De La Salle dinner.  Proceeds from the $750-per-plate fundraiser are applied to academic and cocurricular programs, scholarship assistance and library resources.

“This year’s De La Salle Medal dinner represents truly unparalleled financial success, going beyond historic dinner goals, outcomes and expectations,” says Thomas Mauriello, vice president for advancement at Manhattan College. “This success is also a tribute to Frederic Salerno, his tremendous career and his tireless efforts in support of Manhattan College and higher education.”

A native New Yorker, Salerno joined New York Telephone in 1965 and was elected vice president in 1983, when he directed the divestiture of the company from the Bell System. He was promoted to executive vice president and chief operating officer of New England Telephone in 1985. Two years later, Salerno became president and chief executive officer of New York Telephone.

In 1991, Salerno was appointed vice chairman of NYNEX, a position he held until the 1997 Bell Atlantic merger, which added chief financial officer to his title. When the Bell Atlantic/GTE merger formed Verizon, he was named vice chairman and chief financial officer of the new company. He remained in this position until his retirement in September 2002.

During his 37 years in the telecommunications industry, Salerno served as a lead negotiator in three of the most significant mergers in business history: the 1997 merger of Bell Atlantic and NYNEX; Bell Atlantic’s merger with GTE; and the union of the U.S. wireless assets of Bell Atlantic and Vodafone to make the country’s largest wireless provider, Verizon Wireless. He also directed Bell Atlantic’s successful efforts to realize the annual expense savings, capital efficiencies and revenue gains from the merger with NYNEX.

The De La Salle Medal was established in 1951 in honor of John Baptist de La Salle, founder of the Institute of the Brothers of the Christian Schools and one of the world’s great educators. The Order founded Manhattan College in 1853.

Since 1977, the De La Salle Medal has been conferred annually by the College’s board of trustees to honor executives who exemplify the principles of excellence and corporate leadership. Past recipients include New York Life Insurance Chief Executive Sy Sternberg, former Mayor of New York City Rudolph W. Giuliani ’65 and Con Edison Chairman Eugene R. McGrath ’63.

Founded in 1853, Manhattan College is an independent, Catholic, coeducational institution of higher learning offering more than 40 major programs of undergraduate study in the areas of arts, business, education, engineering and science, along with graduate programs in education and engineering. For more information about Manhattan College, visit www.manhattan.edu.