Verizon names former Ericsson chief as new CEO

Verizon names former Ericsson chief as new CEO

Mr. Vestberg, who joined the company about a year ago and is its chief technology officer, will succeed longtime CEO Lowell McAdam on August 1. The 52-year-old Vestberg will take over as Verizon CEO on August 1. McAdam is retiring this year, and once he does retire, he will transition into the non-executive chairman of the company. Vestberg had previously been CEO and president of Ericsson for six years.

The board of Verizon is happy about the contribution of Hans Vestberg and believes that he can take Verizon to the next level at a time when T-Mobile and Sprint are combining their businesses to take on Verizon and AT&T. At the time, he also took a seat on a three-member management team alongside Marni Walden, the then media chief, and John Stratton, in charge of customer and product operations. Let's turn out focus on Hans Vestberg with a few things to know about the new Verizon CEO.

Verizon acquired Yahoo and AOL under McAdams administration.

Trump calls Canadian PM 'dishonest and weak'
Trump had entered the summit amid a spat with Trudeau and French President Emmanuel Macron over USA tariffs on steel and aluminum. President Trump is demanding the other countries change their trade policies.

He added, "As I think about the power of 5G, I am convinced that this is a significant and pivotal time for Verizon and our entire industry - and now is the time to bring Verizon into its next chapter". Companies are bulking up in an attempt to grab as many consumers as they can.

Since 2011 Verizon Communications made more than $120 billion in capital investments, in addition to AWS, Straight Path and other spectrum purchases, to enhance its mobile networks, while pursuing an M&A strategy focused on wireless, media and broadband services. Verizon set the standard with the nation's largest and most reliable 4G LTE network and the broadest, fastest and most advanced next-generation network in the world. Under McAdam, Verizon took over complete ownership of Verizon Wireless in 2014 through a Dollars 130 billion purchase of Vodafone's 45 percent stake in the company. He's an expert in network architecture and spent his first year at Verizon talking to investors about 5G.

Vestberg meanwhile stepped down as Ericsson chief in 2016 after dismal earnings resulted in sustained criticism of his leadership of the infrastructure giant. News releases are also available through an RSS feed.

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