Monday, January 16, 2017

Börje Ekholm Takes Command at Ericsson

Börje Ekholm officially assumed the position as President and CEO of Ericsson.

Jan Frykhammar remains a member of the Executive Leadership Team and is, effective today, appointed Executive Vice President and Advisor to the CEO. Magnus Mandersson remains Executive Vice President, Advisor to the CEO and a member of the Executive Leadership Team. Carl Mellander remains acting Chief Financial Officer and a member of the Executive Leadership Team.


"I am very excited to assume the role as President and CEO of Ericsson, a company that I have admired for as long as I can remember. Ericsson has shaped an entire industry and led technology developments that have benefitted so many. Yet, we are only at the beginning of the mobility journey as we in coming years will see massive transformation across industries as 5G is introduced," stated Börje Ekholm, President and CEO, Ericsson.

http://www.ericsson.com
  • Prior to his appointment as CEO of Ericsson, Börje served as CEO of Patricia Industries, a division within Investor. Prior to assuming this position in 2015, Börje Ekholm held the position as President and CEO of Investor AB between 2005 and 2015. Previous positions also include President of Investor Growth Capital Inc., as well as positions with Novare Kapital AB and McKinsey & Co Inc.

Hans Vestberg is Out as CEO of Ericsson

Hans Vestberg has stepped down as President and CEO and member of Ericsson's Board of Directors.

Jan Frykhammar, Executive Vice President and CFO, will assume the CEO position until a new CEO is in office.

The resignation comes under pressure from the company's Board of Directors, which issued a statement saying that new leadership is required to address changing market conditions and "drive the next phase of Ericsson's development."  As stated during the disappointing financial report last week, the company must further cut expenses.

In a press statement, Chairman of the Board Leif Johansson says: "Hans Vestberg has led the company for seven years through significant industry and company transformation. Hans has been instrumental in building strong relationships with key customers around the world and his leadership and energy have been an inspiration to employees and leaders across Ericsson. However, in the current environment and as the company accelerates its strategy execution, the Board of Directors has decided that the time is right for a new leader to drive the next phase in Ericsson's development."

https://www.ericsson.com/news/2030327


  • In June 2009, Hans Vestberg took over as CEO of Ericsson, replacing Carl-Henric Svanberg who had taken over as CEO of BP.

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