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Vestberg’s instincts will be far better suited to Verizon than Ericsson

Verizon certainly surprised investors with its pick for its next CEO, who will replace Lowell McAdam when he retires on August 1. The US telco has selected Hans Vestberg, currently its CTO and president of global networks – who was ousted, only two years ago, from the CEO role at Ericsson, after the Swedish firm sank into a deep decline in sales, profits and valuation. A CEO widely regarded as a failure, and one with very Scandinavian sensibilities, initially seems an odd choice to run one of the US’s top two telcos, at a crucial time of change. Verizon has seen strong performance on the wireless side of its business under McAdam, but is challenged in its fixed broadband activities,…

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