Verizon (NYSE, Nasdaq: VZ) has announced a new operating structure focused on three areas: Media and Telematics, Network and Technology, and Customer and Product Operations, the company said.
As part of this structure, effective April 3, the company has hired Hans Vestberg, former CEO of Ericsson, as executive vice president for Verizon´s new Network and Technology team.
Vestberg will report to Verizon Chairman and CEO Lowell McAdam and will lead an organization responsible for further developing the architecture of Verizon´s fiber-centric networks. He will initially be based in Sweden, and is expected to join the US-based team later this spring.
Continuing to report to McAdam will be Marni Walden as executive vice president for Media and Telematics, and John Stratton as executive vice president for Customer and Product Operations.
McAdam said, “This new structure is designed to accelerate our progress toward delivering the promise of the digital world to customers. It will give us greater organizational agility to continue to lead the market with our wireless and fiber services, scale and expand our media and telematics businesses, and maintain the leadership in network reliability and new technology that is a Verizon trademark.”
Verizon Communications, headquartered in New York City, has a diverse workforce of 160,900 and generated nearly $126 billion in 2016 revenues. Verizon operates America´s most reliable wireless network, with 114.2 million retail connections nationwide.