Hans E. Vestberg has been the CEO of Verizon Communications since August 1, 2018. He previously served as CEO of Ericsson, where he gained valuable experience in leading a major telecommunications company. Under Vestberg, Verizon's focus has been on advancing...
Hans E. Vestberg has been the CEO of Verizon Communications since August 1, 2018. He previously served as CEO of Ericsson, where he gained valuable experience in leading a major telecommunications company. Under Vestberg, Verizon's focus has been on advancing its 5G technology and enhancing customer connections across the country. His pay is largely based on performance, with over 90% of his total compensation being variable, meaning it depends on how well the company does. In 2023, he earned about $24 million, boosted by a $1.5 million salary and various bonuses linked to company performance. A notable aspect of his strategy is using stock rewards tied to company earnings, making it clear he has a vested interest in improving shareholder value. Vestberg’s hands-on approach is reflected in his substantial ownership of Verizon shares—more than 300,000 as of 2023. He was awarded performance stock units when he became CEO, tying his financial success directly to the company’s achievements. His leadership in enhancing network operations has been vital, especially as Verizon seeks to set the bar for 5G deployment in the U.S. Additionally, he has shown keen investment skills in companies like BlackRock, indicating his broader engagement in the financial landscape. All in all, Vestberg is steering Verizon in a direction that aligns his interests with those of the shareholders and the company's long-term sustainability.