Verizon CEO Vestberg nominated to BlackRock board

Business

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.