Verizon CEO McAdam retiring, Vestberg named successor | AP business

Verizon CEO McAdam retiring, Vestberg named successor | AP business

Lowell McAdam, who served as Verizon's CEO for seven years, will remain as its chairman through year's end and become a non-executive chairman after that time, the NY company said in a regulatory filing on Friday. Vestberg has only been with Verizon for a year, after having been at Ericsson for six years as its CEO. "We had originally though that Vestberg was hired to give his "under the hood' view of global networks and help Verizon with its move to expand its fiber network out of region", she writes".

As Verizon CTO, Vestberg "has demonstrated his willingness to disrupt our own processes and bring in new practices that make us stronger for our employees, customers and shareholders", McAdam commented.

He's to become CEO at Verizon, effective August 1.

Verizon Communications Inc. named Hans Vestberg chief executive officer, putting an end to months of speculation over who would take over at the wireless giant in the midst of a tumultuous year for the telecommunications industry. McAdam is retiring this year, and once he does retire, he will transition into the non-executive chairman of the company. He will remain as non-executive chairman after that. Hans Vestberg served as Ericsson's CEO from 2010 through 2016.

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.

New Titles and "Fast Start" Revealed for Xbox One Pass
As Bethesda gears up for their E3 presentation tomorrow, some news may have leaked early. While the trailer didn't indicate this, we should know for sure at Bethesda's conference.

The shuffle of leadership has come up due to the critical change in the wireless industry as Verizon and it's competitors are racing to bring in 5G coverage and prove the network superiority.

Under McAdam, Verizon bought AOL and Yahoo. The company also acquired 45 percent of Vodafone's $130 billion stake in Verizon Wireless, now the biggest technology deal of all time. 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.

Verizon has shown how serious it is about 5G.

Vestberg's duties at the company have included expanding out and developing its fiber network.

Related News:

  • Halo Infinite announced, powered by Slipspace Engine, coming to Windows 10

    And that engine will power the game for both Xbox One and Windows 10, a major step for the typically Xbox-focused franchise. Even more gaming news! Dan Casey is the senior editor of Nerdist and the author of books about Star Wars and the Avengers .
    Formula One: Vettel replaces Hamilton atop standings with Canada triumph

    Formula One: Vettel replaces Hamilton atop standings with Canada triumph

    Even given the new engine Vettel had the pace of the field and managed his one-stop race untroubled to the flag. Stroll and Hartley's coming together saw the safety auto deployed but that was the extent of the drama.
    Sea of Solitude is coming in early 2019

    Sea of Solitude is coming in early 2019

    EA also showed off Coldwood Interactive's Unravel Two , which is the sequel to the delightful 2016 platformer Unravel. In " Sea of Solitude ", Kay becomes one of these monsters, and must find her way back to her normal self.
  • Iraqi lawmakers approve manual ballot recount in May 12 vote

    Iraqi lawmakers approve manual ballot recount in May 12 vote

    Criminal charges might be brought against some people although he did not name them or say if they belonged to the commission. MPs also replaced the leadership of the election commission and annulled the votes of overseas and displaced Iraqis.
    ‘Battlefield V’ Royale & Multiplayer Trailer Revealed at EA Play

    ‘Battlefield V’ Royale & Multiplayer Trailer Revealed at EA Play

    EA Play kicked off today with a new trailer for Battlefield V's mutliplayer. The most important of it being, their take on the battle royale genre.
    Baby Kamiyah kidnapper sentenced to 18 years in Florida prison

    Baby Kamiyah kidnapper sentenced to 18 years in Florida prison

    Shanara Mobley had no comment when she left the court room, an Action News Jax reporter tweeted. "Let's go.' I just couldn't". In the 1½ years that Aiken has known where his daughter ended up, he has worked hard to build a relationship with her.
  • Has Linda Pizzuti Henry hinted Nabil Fekir to Liverpool is close?

    Has Linda Pizzuti Henry hinted Nabil Fekir to Liverpool is close?

    Consequently, the Reds were hoping to negotiate a lower fee which prompted Lyon to pull the plug on any potential deal. Now we must wait and see if Liverpool and Klopp go back in for a player they have coveted so much.
    Cristiano Ronaldo Revealed as Federation Internationale de Football Association  19's Cover Star

    Cristiano Ronaldo Revealed as Federation Internationale de Football Association 19's Cover Star

    There isn't a Manchester United fan on the planet who wouldn't love to see Cristiano Ronaldo line up for the Red Devils again. The widespread rumours about Cristiano Ronaldo leaving Real Madrid are refusing to die down.
    Mohamed Salah Rejects Sergio Ramos Claims, Laughs at them

    Mohamed Salah Rejects Sergio Ramos Claims, Laughs at them

    Ramos said after the injury that Salah could have continued the game if he had had an injection. He's not hard, I think he's a good coach, a good man.
  • Donald Trump calls for end to Russian expulsion from G7 grouping

    Donald Trump calls for end to Russian expulsion from G7 grouping

    Chinese President Xi Jinping , speaking after Rouhani, expressed "regret" that Washington had withdrawn from the nuclear deal. Iranian President Hassan Rouhani has warned about the threat U-S unilateralism poses to the world.
    Kim has a 'one-time shot'

    Kim has a 'one-time shot'

    Kim has the "opportunity the likes of which, almost, if you look into history, very few people have ever had", Trump said. When asked what he was doing to prepare, the president said he doesn't have to "prepare very much".

    Dillian Whyte set for heavyweight clash with Joseph Parker in July

    The Bulgarian said last week he was "95 percent sure" that the fight would take place in Sofia in August. Parker dropped a unanimous decision and relinquished his WBO heavyweight title.


Most liked

Deaths of famous by their own hands highlight troubling trend
"It's a national problem of wide scope that we need comprehensive approaches for", said Anne Schuchat, a CDC deputy director. For a suicide prevention number within the United States call the National Suicide Prevention Lifeline at 1-800-273-8255.

Vince Vaughn reportedly busted for DUI
Additionally, the actor will be place on informal probation for 2 years and could lose his driver's license for up to a year. Authorities have confirmed that the actor is being charged with driving while under the influence and resisting arrest.

Microsoft Game Studios just added five new studios including Ninja Theory
Microsoft also announced that it has acquired State of Decay developer Undead Labs and Forza Horizon studio Playground Games . As for Compulsion, a new trailer was released for We Happy Few at today's conference, and the release date was announced.

Rafael Nadal clinches record-extending 11th French Open title
At the following changeover, Nadal was given a salt pill by a doctor and had his left forearm massaged by a trainer. Nadal held for 5-4, and Thiem basically handed over the next game - and the set - with four mistakes.

White House Economic Adviser: Canada's Trudeau 'Stabbed Us In The Back'
Kudlow, in a separate TV appearance, said Trudeau was "polarizing" and "really kind of stabbed us in the back". We're going to stand united. "We strive to reduce tariff barriers, non-tariff barriers and subsidies".

Rafael Nadal lifts record 11th French Open title
The Spaniard also won the title without losing a set, becoming the third man to do so in the Open era after Ilie Nastase and Borg. Sunday's championship victory was as convincing and efficient a Grand Slam title as nearly any other in Nadal's epic career.

Rafael Nadal clinches 11th French Open title in ‘Claywalk’
And he increased the tempo further, consigning Thiem to defeat in his first major final when the Austrian sent a return long. Look back over Rafael Nadal's Grand Slam history after his 17th major win at the 2018 French Open at Roland Garros.

DOJ Won't Defend Obamacare in Lawsuit Brought by 20 States
Yesterday, the Trump administration's Department of Justice dropped a bombshell in a rural Texas federal courthouse. Without the tax penalty, they argue, "the Court should hold that the ACA is unlawful and enjoin its operation".

BlackBerry presented the new mobile business class
BlackBerry is using the secondary rear shooter as a telephoto zoom, similar to the iPhone X, and enabling portrait mode shots too. Moreover, it has a new dedicated "Speed key" that lets you launch apps by pressing it and the letter assigned to the app.

What time, channel is Golden State Warriors vs
Durant averaged 28.7 points, 10.7 rebounds and 7.5 assists per game in the series. Golden State opened the game laser-focused on the prospect of a sweep.

Pre-cut melon likely cause of Salmonella outbreak — CDC
Young children, the elderly and people with weakened immune systems are more vulnerable to severe illness. IL cases range in age from 23 to 87 years and have been reported in all regions of the state.

Body found after gator pulls woman into south Florida lake
Authorities warn that gators are "opportunistic feeders", meaning that they will generally snap onto anything that gets near them. Authorities closed the park Friday. "So you're not shocked this happened, not at all, but heartbreaking", Ramasaran said.

After days of insults, Trump and Trudeau pal around at G7
State news agencies quoted Kremlin spokesman Dmitry Peskov as saying, "We are putting the emphasis on other formats". Trump called for Russia's reinstatement to the group before he arrived at the annual summit taking place in Quebec.

Putnam’s office failed to do background checks for a year
Florida Democrats say the "damning and disturbing" report from the Times should disqualify the Republican from being governor. A Putnam spokesman said Friday that the employee responsible for the problem had been fired.

Vettel ends Ferrari's 17-year wait for Canada pole
So, great to carry momentum we've had in qualifying so far this year, even though the last race was a little bit less so. Red Bull's Max Verstappen pipped Lewis Hamilton's Mercedes in first practice at the Canadian Grand Prix .