Verizon CEO McAdam to Retire, Will Be Replaced by Vestberg
Verizon Communications today said long-serving Lowell McAdam will vacate his position as CEO on August 1. He will remain with the company as Executive Chairman of the Board through the end of the year, and then transition to a Non-executive Chairman role in 2019. McAdam has led Verizon since August 2011. McAdam will be succeeded as CEO by Hans Vestberg, who currently serves as the company's Executive Vice President, President of Global Networks, and Chief Technology Officer. Vestberg has played a large role in developing the architecture for Verizon's fiber-centric networks, including its LTE 4G service and forthcoming 5G service. Vestberg previously worked for Ericsson. "I strongly believe in the power of change to drive long-term growth and innovation," said McAdam in a statement to employees. "For Verizon, the time for a change in leadership is now, and I am confident that Hans is the right person to bring Verizon through its next chapter." Concerning his new role, Vestberg said, "I am humbled to be appointed CEO of Verizon at such an exciting and dynamic time for our company and industry. We are experiencing unprecedented changes in the way users interact in the digital world, and we are racing ahead to remain at the forefront of technology, connectivity and mobility."
Aug 1, 2018
Hans Vestberg has assumed the role of Verizon's CEO, replacing long-time leader Lowell McAdam. The company announced the change in June.
Dec 22, 2017
Alphabet Executive Chairman Eric Schmidt this week said he plans to step down from his leadership role on the company's board and will instead serve as a technical advisor to the company. "Larry, Sergey, Sundar and I all believe that the time is right in Alphabet’s evolution for this transition.
May 15, 2018
Verizon Wireless CEO Lowell McAdam today indicated that Los Angeles will be one of the carrier's first 5G markets, and that it will launch during the fourth quarter of the year. 5G is "a lot closer than people think," said McAdam.
Nov 28, 2018
LG today announced leadership and organizational changes that it hopes will improve the fortunes of its mobile business unit, which has suffered losses perennially. The current head of LG's Home Entertainment Company, Brian Kwon, will add the Mobile Communications Company to his plate.