Verizon names tech chief CEO, prioritizes 5G network over content

Verizon Communications Inc named Chief Technology Officer Hans Vestberg as its new CEO on Friday, surprising analysts and signaling the largest U.S. wireless company's priority is building the next-generation 5G network, not expanding further into media content. Vestberg, 52, joined Verizon a year ago after being fired as chief executive at communications equipment maker Ericsson in 2016, following years of dismal growth and weak earnings. At Verizon he headed a team building out Verizon's fiber network infrastructure, and he will lead Verizon in a strategy that differs markedly from wireless rival AT&T Inc which is battling with the U.S. Justice Department to acquire media company Time Warner Inc in an $85 billion deal.

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