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Vestberg has led a team building out Verizon's fibre network infrastructure and was overseeing the USA build-out. The Justice Department is now making attempts to block AT&T's plan to acquire Time Warner, CNN's parent company.

Verizon's next CEO will be Hans Vestberg, former CEO of key supplier Ericsson, who joined Verizon as chief technology officer just over a year ago. Vestberg's contribution so far at Verizon as CTO is quite deep. A judgment on that case is expected by June 12.

Verizon acquired Yahoo and AOL under McAdams administration. Vestberg made a presentation about Verizon's 5G plans in a panel discussion at the CES show in Las Vegas in January.

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Hans Vestberg said in an interview the No. 1 US wireless carrier would keep pursuing its current 5G strategy but he did not "see anything new on the horizon" to pursue media content.

Though, media is gradually becoming obsolete in telecom.

The transition also comes amid a pending tie-up between number three and four carriers T-Mobile and Sprint, subject to regulatory review. In 2016, unable to turn around slumping profits at Ericsson, Vestberg was ousted from the company. "At this point he's closer to the current focus of the company", John Hodulik, an analyst at UBS who covers Verizon, told The Journal.

But McAdam expressed confidence about his successor.



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