Verizon Names Vestberg as New CEO | Light Reading

Holy fandango! Former head of Ericsson and the operator’s current CTO will replace Lowell McAdam on August 1 and lead the operator into the 5G era.

McAdam, who has been with the company for 35 years, posted a message addressed to Verizon Communications Inc. (NYSE: VZ) employees Friday saying that the decision was the culmination of a two-year plan. He also noted that the best time to transition a CEO is when things are going well: McAdam said that was also the case when he took over from Ivan Seidenberg in 2011, as the operator had just acquired full ownership of Verizon Wireless and was able to pursue a singular, focused strategy as a result.

Source: Verizon Names Vestberg as New CEO | Light Reading

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