CEO of Ericsson (2010–2015) CTO of Verizon Communications (2017–2018)[1] CEO of Verizon (2018–present)[2]
Hans Vestberg (born 23 June 1965) is the CEO and Chairman of Verizon, where he has worked as executive vice president of the company's network and technology team, and as chief technology officer. Vestberg was previously the CEO of telecommunications company Ericsson, president of the Swedish Olympic Committee, and chairman of the Swedish Handball Federation.
Vestberg began his career in Hudiksvall at Ericsson Cables in 1991.[8] He worked at Ericsson for 25 years,[9] with management roles for the company in Sweden, China, Brazil, Mexico and the United States.[5] He was CFO for Ericsson in Brazil from 1998 to 2000.[10] From 2000 to 2002, Vestberg was CFO for Ericsson in North America and comptroller for the Americas.[10] He was president for Ericsson in Mexico from 2002 to 2003.[10] Afterward, he was a senior vice president and executive vice president for Ericsson before he was named chief financial officer in 2007, a post he held through 2009.[5][10] Vestberg became the first CEO of Ericsson without an engineering background when he replaced Carl-Henric Svanberg in January 2010.[5][11] Slowing industry demand and new competition impacted Vestberg's tenure as CEO, despite his cost cutting efforts and acquisitions. He was ousted July 2015, following Ericsson's poor financial performance.[12][13]
Vestberg joined Verizon as the company's chief technology officer and executive vice president of its network and technology team on April 3, 2017.[3][14] There, he oversaw Verizon's fiber network and the development of Verizon's nascent 5G network.[9][15] On June 8, 2018, Verizon announced that Vestberg would succeed Lowell McAdam as the company's chief executive officer on August 1, 2018.[16] In 2021, Verizon and Vestberg were criticized by with a group of retired shareholders called the Association of BellTel Retirees for Vestberg's $39.4 million golden parachute executive compensation plan.[17]
^"Ericsson ousts CEO Vestberg, shares soar". Reuters. 25 July 2016. Retrieved 9 June 2018. Ericsson's board were unanimous in its decision, which comes after months of criticism against Vestberg's leadership and pay.
