Verizon Communications Inc. (NYSE:VZ) has a new CEO in Hans Vestberg.
The announcement that there’s a new Verizon CEO on the way was made by the company in a press release today. The company says that this change will have Hans Vestberg taking over as CEO on August 1, 2018. This will have him replacing current CEO Lowell McAdam.
With Hans Vestberg taking over as the new Verizon CEO, Lowell McAdam will be changing roles. The current CEO will remain as the Executive Chairman of the Board until he retires from the company at the end of 2018. After this, he will still hold the Non-Executive Chairman position with VZ.
That’s enough about McAdam, though. Let’s turn out focus on Hans Vestberg with a few things to know about the new Verizon CEO.
- He is currently serving as the Executive Vice President, President of Global Networks and Chief Technology Officer for Verizon.
- Vestberg’s duties at the company have included expanding out and developing its fiber network.
- He has also been working to prepare VZ for the change over to 5G networks.
- His time with the company has been short, only taking on his current roles with it in April 2017.
- Prior to joining the wireless company, Vestberg had a long history with Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC).
- This includes being a holder of several leadership roles at the company before becoming its Chief Financial Officer in 2007.
- He then went on to lead ERIC as its CEO in 2009 and served in this role for six years.
- Vestberg is also one of the founding members of the International Telecommunications Union (ITU) Broadband Commission for Digital Development.
You can follow this link to learn more about the new Verizon CEO.
As of this writing, William White did not hold a position in any of the aforementioned securities.
