This is Who Verizon Chose for its New CEO

Verizon has chosen its chief technological officer Hans Vestberg to be the CEO of the company come August.

Vestberg joined Verizon last year and in the past was the CEO of telecom equipment provider Ericsson.

He will be succeeding Lowell McAdam, who has been CEO since August 2011.

“They picked an outsider with a little bit more new experience compared to John Stratton, who has been nurtured and groomed for this position for 20 years,” remarked Recon Analytics analyst Roger Entner.

Entner said, “I think this is a logical culmination of a strategy for the last five, six, seven years of Lowell and Verizon in general bringing in more and more people from the outside.”

Disclaimer: We have no position in Verizon Communications Inc. (NYSE: VZ) and have not been compensated for this article.