Verizon Communications has named Hans E. Vestberg, executive vice president and president of global networks and chief technology officer. Vestberg will succeed Lowell C. McAdam as CEO, effective 1 August 2018. McAdam – who was named CEO on August 1, 2011, and chairman on January 1, 2012 – will serve as executive chairman of the board through his retirement from the company at the end of the year, after which he will become non-executive chairman.
Vestberg currently serves as executive vice president and president of global networks and chief technology officer. His responsibilities include further developing the architecture for the company’s fibre-centric networks, including the country’s 4G LTE network, the 5G deployment in the U.S., the development of what the company says is the nation’s broadest residential fibre network, and a global internet backbone and undersea cable network.
Commenting on the appointment McAdam said: ‘I strongly believe in the power of change to drive long-term growth and innovation. 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.’
Responded Vestberg: ‘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. To know Lowell is to be inspired by his vision for Verizon’s role in shaping the future.’
Verizon has also announced the retirement of John Stratton, executive vice president and president of global operations at the end of 2018. Stratton will step down from his current role with immediate effect and support a smooth transition as a strategic advisor, reporting to McAdam.
Stratton, 57, has served Verizon and its predecessor, Bell Atlantic Mobile, for more than 25 years, holding a number of executive level positions. Since his appointment to EVP and president of global operations in 2015, Stratton has led and grown the company’s established businesses, including Verizon Wireless, Verizon Enterprise Solutions, Verizon Consumer Markets, Verizon Business Markets, Verizon Partner Solutions and Verizon Connect (telematics).
Said McAdam: ‘As one of the founding leaders of Verizon Wireless, John has left his mark on the business. He has been at the forefront of our evolving strategy and is one of the key people responsible for setting the strong foundation that we are building on today.’
Added Stratton: ‘It has been an honour to be a leader at Verizon alongside so many brilliant and committed V Teamers – all of whom put the customer and our company first. I am incredibly proud of the strides we have made to position Verizon as the leader in customer service and on the forefront of next-generation technologies, including 5G.’
Amongst its other developments this year Verizon has begun its large-scale NG-PON2 deployments during the first quarter, for which the US operator named Calix as a main supplier partner (see Verizon partners with Calix for milestone NG-PON2 deployments).