Hans Vestberg

Last updated
Hans Vestberg
Hans Vestberg 2018.jpg
Born (1965-06-23) 23 June 1965 (age 59)
Hudiksvall, Sweden
Education Uppsala University (BBA)
Occupation(s)CEO of Ericsson (2010–2016)
CTO of Verizon Communications (2017–2018) [1]
CEO of Verizon (2018–present) [2]

Hans Vestberg (born 23 June 1965) is a Swedish businessman and CEO of Verizon Communications, 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.

Contents

Early life and education

Hans Vestberg was born in Hudiksvall, Sweden, in 1965. [3] [4] He received a Bachelor of Business Administration from Uppsala University in Sweden in 1991. [5] [6] [7]

Career

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 for Vestberg's $39.4 million golden parachute executive compensation plan, with a group of retired shareholders called the Association of BellTel Retirees alleging that the scale constituted boardroom misconduct. [17]

Board participation

Vestberg chairs the World Economic Forum's Edison Alliance, a global telecom ecosystem that in 2021 focused on digital inclusion. [18] In May 2021, Vestberg was elected to the board of directors of BlackRock, where he is on the governance committee. [19] Vestberg is a board member on the United Nations Foundation, [20] and the Whitaker Peace & Development Initiative, [21] as well as a commissioner on the Broadband Commission for Sustainable Development. [22]

Sports

Vestberg was the chairman of the Swedish Handball Federation from 2007 to 2016. [5] [23] [24] He left the Swedish Handball Federation to be president of the Swedish Olympic Committee from 2016 to 2018 as the country vied to host the 2026 Winter Olympics in Stockholm and Åre. [3] [23] [25] Vestberg had previously played semipro handball in Brazil. [3]

Personal life

Vestberg is married and has two children. [3] He is fluent in Swedish, English, Spanish, and Portuguese. [3]

Related Research Articles

<span class="mw-page-title-main">Ericsson</span> Swedish multinational networking and telecommunications company

Telefonaktiebolaget LM Ericsson, commonly known as Ericsson, is a Swedish multinational networking and telecommunications company headquartered in Stockholm. The company sells infrastructure, software, and services in information and communications technology for telecommunications service providers and enterprises, including, among others, 3G, 4G, and 5G equipment, and Internet Protocol (IP) and optical transport systems. The company employs around 100,000 people and operates in more than 180 countries. Ericsson has over 57,000 granted patents.

<span class="mw-page-title-main">Telia Company</span> Swedish multinational telecommunication provider

Telia Company AB is a Swedish multinational telecommunications company and mobile network operator present in Sweden, Finland, Norway, Estonia, Latvia and Lithuania.

<span class="mw-page-title-main">Hudiksvall Municipality</span> Municipality in Gävleborg County, Sweden

Hudiksvall Municipality is one of Sweden's 290 municipalities, situated in Gävleborg County, east central Sweden. Its seat is in the city Hudiksvall.

Vonage Holdings Corp. is an American cloud communications provider operating as a subsidiary of Ericsson. Headquartered in Holmdel Township, New Jersey, the organization was founded in 1998 as Min-X as a provider of residential telecommunications services based on voice over Internet Protocol (VoIP). In 2001, the organization changed its name to Vonage.

Verizon is an American wireless network operator that previously operated as a separate division of Verizon Communications under the name Verizon Wireless. In a 2019 reorganization, Verizon moved the wireless products and services into the divisions Verizon Consumer and Verizon Business, and stopped using the Verizon Wireless name. Verizon has 114.8 million subscribers as of March 31, 2024. It currently has the largest network in the United States with their LTE network covering 70% of the United States.

4G is the fourth generation of broadband cellular network technology, succeeding 3G and preceding 5G. A 4G system must provide capabilities defined by ITU in IMT Advanced. Potential and current applications include amended mobile web access, IP telephony, gaming services, high-definition mobile TV, video conferencing, and 3D television.

<span class="mw-page-title-main">Magyar Telekom</span> Hungarian telecommunications service

Magyar Telekom Nyrt. is one of the leading Hungarian telecommunications service provider company. It is a subsidiary of Deutsche Telekom.

<span class="mw-page-title-main">MTN Group</span> Multinational telecommunications company based in South Africa

MTN Group Limited is a South African multinational corporation and mobile telecommunications provider. Its head office is in Johannesburg. As of December 2022 MTN recorded 289.1 million subscribers. MTN is among the largest mobile network operators in the world, and the largest in Africa.

Hawaiian Telcom, Inc., is the incumbent local exchange carrier (ILEC) or dominant local telephone company, serving the state of Hawaii. In 2005, Hawaiian Telcom Holdco, Inc., was formed by The Carlyle Group, following its purchase of the Hawaiian Telcom Inc. assets of Verizon Communications. On July 2, 2018, Cincinnati Bell purchased Hawaiian Telcom Holdco, Inc. for $650 Million,

<span class="mw-page-title-main">Carl-Henric Svanberg</span> Swedish businessman (born 1952)

Carl-Henric Svanberg is a Swedish businessman and current Chairman of Volvo. He was Chairman of BP for eight years, from 2010 to 2018.

<span class="mw-page-title-main">Lowell McAdam</span> American businessman (born 1954)

Lowell Clayton McAdam is an American businessman. He is the former chairman and CEO of Verizon Communications, a company he joined in 2000.

<span class="mw-page-title-main">Ken Howery</span> American entrepreneur & diplomat (born 1975)

Kenneth Alan Howery is an American entrepreneur and diplomat. He is a co-founder of PayPal and Founders Fund. He served as the U.S. Ambassador to Sweden from 2019 to 2021 under President Donald Trump.

<span class="mw-page-title-main">Verizon</span> American telecommunications company

Verizon Communications Inc., commonly known as Verizon, is an American multinational telecommunications conglomerate based at 1095 Avenue of the Americas in Midtown Manhattan, New York City. Verizon's capital stock is a component of the Dow Jones Industrial Average. It is the world's second-largest telecommunications company by revenue.

<span class="mw-page-title-main">2degrees</span> Telecommunications company in New Zealand

2degrees is a New Zealand telecommunications provider. Its mobile network launched on 4 August 2009 after nine years of planning. 2degrees offers prepaid and pay-monthly mobile services, as well as fixed-line phone and broadband services. 2degrees is the third-largest wireless carrier in New Zealand, with 1.3 million subscribers as of July 2015.

<span class="mw-page-title-main">5G</span> Broadband cellular network standard

In telecommunications, 5G is the fifth-generation technology standard for cellular networks, which cellular phone companies began deploying worldwide in 2019, and is the successor to 4G technology that provides connectivity to most current mobile phones.

Shaygan Kheradpir is an American businessman and technology executive. Kheradpir holds a bachelor's, master's and doctoral degree in electrical engineering from Cornell University. He is best known for driving transformational change through the use of technology of Verizon where he led technology, Barclays bank as COO, Juniper Networks and Coriant as CEO. He is an honorary member of Cornell Engineering council and served on the advisory board of the US National Institute of Standards and Technology VCAT [22].

<span class="mw-page-title-main">Airtel India</span> Indian telecommunications company

Airtel India commonly known as Airtel, is the second largest provider of mobile telephony and third largest provider of fixed telephony in India, and is also a provider of broadband and subscription television services. The brand is operated by several subsidiaries of Bharti Airtel, with Bharti Hexacom and Bharti Telemedia providing broadband fixed line services and Bharti Infratel providing telecom passive infrastructure service such as telecom equipment and telecom towers. Currently, Airtel provides 5G, 4G and 4G+ services all over India. Currently offered services include fixed-line broadband, and voice services depending upon the country of operation. Airtel had also rolled out its VoLTE technology across all Indian telecom circles.

Federated Wireless is an American-based wireless communications company headquartered in Arlington County, Virginia. The company is "commercializing CBRS spectrum for 4G and 5G wireless systems".

Viaplay Group AB, formerly known as Nordic Entertainment Group AB, is a Swedish media and entertainment company headquartered in Stockholm.

References

  1. ↑ Spangler, Todd (March 31, 2017). "Verizon Hires Ex-Ericsson CEO Hans Vestberg, Eyes U.S. Internet Pay-TV Launch".
  2. ↑ Robins, Anjali; Sheetz, Michael (2018-06-08). "Verizon picks Hans Vestberg as its next CEO, showing how the company is prioritizing 5G". CNBC. Retrieved 2018-06-08.
  3. 1 2 3 4 5 6 Krouse, Sarah (8 June 2018). "Verizon CEO to Retire, Succeeded by a Newcomer". The Wall Street Journal . Retrieved 29 June 2018.
  4. ↑ Trichur, Rita (2 February 2012). "Ericsson and the mobile broadband revolution" . The Globe and Mail . Retrieved 29 June 2018. Personal: Born June 23, 1965 in Hudiksvall, Sweden. He is married with two children and currently resides in Stockholm.
  5. 1 2 3 4 5 Charlton, Alistair (17 January 2014). "Microsoft CEO Race - Profile of Hans Vestberg". International Business Times . Retrieved 29 June 2018.
  6. ↑ Erika Svantesson, Hasse Eriksson. "Hans Vestberg ny vd för Ericsson". DN.SE. Retrieved 2014-04-17.
  7. ↑ "Mr. Hans Vestberg Verizon". Broadband Commission. Retrieved 2023-09-09.
  8. ↑ "Fakta: Hans Vestberg". st.nu. 2009-06-26. Archived from the original on 2012-03-18. Retrieved 2014-04-17.
  9. 1 2 Rao, Prashant S.; de la Merced, Michael J. (8 June 2018). "At Verizon, a Changing of the Guard as It Pursues 5G". The New York Times . Retrieved 29 June 2018.
  10. 1 2 3 4 "Change of guard at Ericsson". FierceWireless. 24 June 2009. Retrieved 29 June 2018.
  11. ↑ "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.
  12. ↑ Nordenstam, Sven (July 25, 2016). "Ericsson ousts CEO as investors lose patience over returns". Reuters.com. Retrieved February 11, 2022.
  13. ↑ Kinney, Sean (July 25, 2016). "Ericsson CEO Hans Vestberg steps down effective immediately". RCRWireless.com. Retrieved February 11, 2022.
  14. ↑ Spangler, Todd (2017-03-31). "Verizon Hires Ex-Ericsson CEO Hans Vestberg, Eyes U.S. Internet Pay-TV Launch". Variety. Retrieved 2017-11-01.
  15. ↑ Mukherjee, Supantha; Dang, Sheila (8 June 2018). "Verizon names tech chief CEO; prioritizes 5G network over content". Reuters . Retrieved 2 July 2018.
  16. ↑ Baumgartner, Jeff. "Hans Vestberg to Succeed Lowell McAdam as Verizon CEO". Multichannel. Retrieved 2019-10-23.
  17. ↑ Elstein, Aaron (6 April 2021). "Revenge of the retirees: Former Verizon workers look to clip executive pay packages". Crain's New York Business. Retrieved 17 February 2022.
  18. ↑ Hardesty, Linda (February 1, 2021). "Hans Vestberg chairs Edison Alliance to close the global digital divide". Fierce Wireless. Retrieved February 11, 2022.
  19. ↑ Massa, Annie (May 26, 2021). "BlackRock Shareholders Elect Verizon CEO Vestberg to Board". Bloomberg. Retrieved February 11, 2022.
  20. ↑ "HANS VESTBERG (SWEDEN)" . Retrieved February 11, 2022.
  21. ↑ "Whitatker". WPDI. Retrieved February 11, 2022.
  22. ↑ "Commissioners". Broadband Commission. Retrieved February 11, 2022.
  23. 1 2 "Hans Vestberg elected chairman of Swedish Olympic Committee". European Handball Federation. 21 April 2016. Retrieved 18 June 2024.
  24. ↑ Cornelia Ilie; Stephanie Schnurr, eds. (2017). Challenging Leadership Stereotypes Through Discourse: Power, Management and Gender. Springer. p. 86. ISBN   9789811043192 . Retrieved 29 June 2018.
  25. ↑ "Stockholm: Staging 2026 Winter Olympics is 'desirable'". The Associated Press. 27 January 2017. Retrieved 18 June 2024.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.