Verizon's 'Surprising' Personnel Moves Have Executives, Analysts Eyeing 5G
Analyst reactions to Verizon personnel changes included that 5G may become a bigger focus under incoming CEO (see the personals section of today's issue) Hans Vestberg. That executive, a relative newcomer hired last year (see the personals section of the…
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April 3, 2017 issue), was previously chief of Ericsson. Vestberg was “a better match for where Verizon was going to go,” outgoing CEO Lowell McAdam told The Wall Street Journal in comments a spokesman told us were accurate. “With 5G in front of us, we are at a huge inflection point. Whoever is at the head of the business should be able to see that through.” The carrier now "has a small window of opportunity to take the lead in 5G," and by next year's second half, "the industry could look very different," Macquarie Capital's Amy Yong wrote to investors Friday. "While its peers have moved toward vertical integration/scale, Verizon has focused on its 5G strategy." The CEO decision is "an extremely surprising move" and "most surprising" because it doesn't include Verizon Wireless Executive Vice President John Stratton, whom "many viewed as the heir apparent," said Wells Fargo analyst Jennifer Fritzsche. She also pointed to the retiring CEO's comments on 5G.