Verizon: CEO Hans Vestberg elected board chairman
(CercleFinance.com) - Verizon CEO Hans Vestberg has been elected chairman of the US telecom giant, effective as of 8 March, the company said on Friday.
A Swedish citizen, Vestberg, 53, will succeed from Lowell McAdam, who is retiring, although will remain on the company's board until its annual shareholder meeting on 2 May, the phone operator said.
McAdam had been Verizon's CEO since August 2011 and chairman since 2012. He retired as CEO last year.
Vestberg has been CEO since last August, after joining Verizon in April 2017. As a reminder, he served as CEO of Swedish telecoms gear maker Ericsson from 2010 to 2016.
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