Verizon will have a new CEO for its 5G future

Verizon has announced that Hans Vestberg, currently the company's chief technology officer and VP of global networks, will become its next CEO and succeed current chief executive Lowell McAdam on August 1st. McAdam has led Verizon Communications — the parent company of Verizon Wireless, Verizon Fios, and other telecommunications subsidiaries — since 2011.

He began his tenure as CEO just after the company launched its 4G LTE network, which has since grown to offer robust nationwide coverage. He also oversaw major acquisitions including AOL and Yahoo, which were later combined into Oath. McAdam will remain as executive chairman of Verizon's board through the end of this year. "For Verizon, the time for a change in leadership is now, and I...

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