Old Shazam blew it when he gave powers to Black Adam (Shazam called him Mighty Adam originally), who was created as an evil version of Captain Marvel. In looking at the Grand Comics Database for the issue this story appeared in, Marvel Family #1 (1945), I see this origin story has been reprinted several times since DC Comics acquired the rights to Captain Marvel in 1973. The character is an interesting bad guy, but it appears no one at Fawcett had any plans to keep him on as a resident menace.
A Wikipedia page gives information about Black Adam’s appearances after the character was revived, but I keep it simple here at Pappy’s. In keeping with my simple mind, I stick with the Golden Age versions only.
Otto Binder wrote it, and C.C. Beck and Pete Costanza are given credit for the artwork.