On Friday, Verizon, the US’s largest telecoms operator, announced that Hans Vestberg, current head of technology and the global network business area, will succeed Lowel McAdam as CEO.
Vestberg came to Verizon in April 2017 after being fired from Ericsson. His departure came after Ericsson’s profits and share price plunged. Vestberg was harshly criticised at the time for having side projects.
In December 2017 Ericsson signed a deal with Verizon over 5G expansion during autumn 2018. The deal, which is unlikely to concern significant amounts of money, has symbolic weight. Dagens Industri (DI) writes that the two companies are so tightly intertwined that an old grudge is unlikely to stand in the way of the cooperation.
Ericsson declined to comment on the issue of how it feels for a former CEO to take the leadership of one of its most important customers.
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