Saudi king calls Erdogan as Khashoggi fallout widens
Rally in equities push oil prices above $80 a barrel
Trump Warning over Missing Writer Crashes Saudi Stocks by 7.0 Percent
No victor in Mega Millions Friday
Singapore Airlines to launch longest flight for NY
Verizon picks Hans Vestberg to serve as new CEO
09 June 2018, 08:12 | Joann Bryant
Hans Vestberg will be the next CEO at Verizon
Verizon Communications Inc named Chief Technology Officer Hans Vestberg as its new CEO on Friday, surprising analysts and signalling the largest USA wireless company's priority is building the next-generation 5G network, not expanding further into media content.
He's to become CEO at Verizon, effective August 1.
Verizon Communications Inc. named Hans Vestberg as its next chief executive, choosing a relative newcomer to run the wireless giant at a time when its industry is being reshaped by megadeals. In fact, not long after Verizon announced Vestberg as CEO, it announced that Stratton, executive vice president and president of Global Operations, informed the company of his decision to retire from the company by the end of this year.
M. Frances Keeth, Lead Independent Director of Verizon's Board of Directors, said, "Verizon has a history of robust succession planning to ensure that the company is best positioned to deliver on our value proposition to all stakeholders".
Current Verizon CEO, Lowell McAdam, said in an interview it was the flawless time to hand the reins to Vestberg, with Verizon at an "inflection point" holding all the pieces it needs for 5G, such as fibre and spectrum.
Passed over for the job was John Stratton, president of global operations. Before joining Verizon, he worked at the networking and telecommunications company Ericsson, where he served six years as chief executive and president and also was chief financial officer.
One of McAdam's signature deals was Verizon's $130 billion buyout of Vodafone's 45% stake in the USA wireless company, a deal which gave the company full access to the profits from its mobile operations and the resources to invest in its mobile network and fend off challengers. The board's selection of the newcomer, who has been responsible for overseeing the deployment of next-generation 5G mobile services, signals the significance the company places on an emerging technology that will deliver faster internet connections and download speeds and play a critical role in a range of emerging technologies, including self-driving vehicles and internet connected devices.
In this role, he led more than 115,000 employees as the company transformed from a focus on hardware to software and services. Then in July 2016, Ericsson's board thanked Vestberg for his energy and leadership and said it was time for a new CEO to run Ericsson.
McAdam sought instead to diversify Verizon's business by investing in digital content.
Just two years ago, Vestberg was CEO of Ericsson as the vendor struggled to cut costs in the face of declining demand for its LTE infrastructure. He also led the acquisitions of major media, fiber and telematics assets, including AOL Inc., Yahoo!
Harvey Weinstein pleads not guilty
Brafman says the rape complaint came from a woman who had a 10-year affair with Weinstein, but the information was not confirmed. Vance Jr. has said it was predictable that Weinstein's camp would attack the integrity of the women and of the legal system.
One US Soldier Killed, Four Injured in Attack in Somalia
At least one U.S. special forces solider was killed and four USA service members were wounded after an enemy attack in Somalia. A US Department of Defense (DoD) representative confirmed to AFP that one American soldier was killed and four were wounded.
Govt seeks explanation from FB over data-sharing issue
However, such reports raise uncomfortable questions about the assurances made by Facebook, the government said. As Christopher Wylie says in the above video, "Cambridge Analytica is the beginning, it's not the end".
Ford's Conservatives win Ontario election on populist platform
Ontario hasn't had a premier like Ford before, said Western University associate political science professor Cristine de Clercy. People are exhausted and resources are thin following the campaign, he said, and the party would do better to bide its time.
How to get help for someone who might be suicidal
A rare and brilliant talent is gone from the world after Anthony Bourdain has taken his own life at the age of 61 . Its rate jumped a staggering 40.6 percent between 1999 and 2016, the years covered in the CDC report .