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Verizon CEO Vestberg nominated to BlackRock board

March 24, 2021 at 05:03 pm EDT

NEW YORK (Reuters) - Verizon Communications chief executive, Hans Vestberg, has been nominated to join the board of BlackRock Inc, the world's largest asset manager said on Wednesday.

Vestberg will be included as a nominee in BlackRock's 2021 proxy statement and, if elected, will join the board as an independent director after BlackRock's annual meeting on May 26, the asset manager said.

"Hans' leadership and international experience, as well as his deep knowledge of technology and sustainability, perfectly align with some of BlackRock's most important priorities," BlackRock CEO Larry Fink said in a statement.

BlackRock is keen to position itself as a leader in sustainable finance and over the last year has looked to take a tougher position on companies not performing on environmental, social and governance related issues.

Mathis Cabiallavetta, a former vice-chairman of Swiss Re, who has served on the BlackRock board since 2007, will not stand for re-election at this year's annual meeting, the company said.

(Reporting by Saqib Iqbal Ahmed)

By Saqib Iqbal Ahmed

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Hans Vestberg

Hans Erik Vestberg is a businessperson who has been at the head of 7 different companies and presently occupies the position of Chairman & Chief Executive Officer of Verizon Communications, Inc. and Chairman & Chief Executive Officer for Cellco Partnership, Inc. (a subsidiary of Verizon Communications, Inc.). He is also on the board of United Nations Foundation, World Childhood Foundation and Whitaker Peace & Development Initiative and Executive Vice President & General Manager at the University of Linköping, Member of New Cities Foundation and Member-Leadership Council at UN Sustainable Development Solutions Network. In the past Mr. Vestberg was Chairman of ST-Ericsson SA, Chairman for Svenska Handbollsförbundet, President, Chief Executive Officer & Director at Telefonaktiebolaget LM Ericsson President & Chief Executive Officer of Ericsson, Inc. Chief Executive Officer for Ericsson Danmark An and Chief Financial Officer for Ericsson Telecommunicações SA (which are all subsidiaries of Telefonaktiebolaget LM Ericsson) and Member of Broadband Commission for Sustainable Development. Hans Erik Vestberg received an undergraduate degree from the University of Uppsala.

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Linked companies
VERIZON COMMUNICATIONS	Chief Executive Officer
Cellco Partnership, Inc. Cellco Partnership, Inc. Wireless TelecommunicationsCommunications Cellco Partnership, Inc. engages in providing wireless voice and data services. The company was founded on October 4, 1994 and is headquartered in Basking Ridge, NJ.	Chief Executive Officer