Swedish equipment vendor Ericsson has appointed Börje Ekholm as President and CEO. His appointment is effective from 16 January 2017. He will also remain in the Board of Directors of Ericsson.
Ekholm’s appointment comes three months after Hans Vestberg was ousted in late July 2016. He is currently the CEO of Patricia Industries, a division within Investor. Prior this, Börje Ekholm held the position as President and CEO of Investor AB between 2005 and 2015. He was also the President of Investor Growth Capital Inc., as well as held positions with Novare Kapital AB and McKinsey & Co Inc.
Welcoming Börje Ekholm to the new role, Chairman of the Board Leif Johansson said, “I am very pleased to announce the appointment of Börje Ekholm. He has a solid understanding of both the technology and business implications of the ongoing convergence of telecoms, IT, and media. Having served on Ericsson’s Board of Directors for the past ten years, Börje Ekholm has a full understanding of the challenges and the opportunities Ericsson currently faces.”
“In the middle of a significant company transformation, I am confident that Ericsson will benefit from Börje Ekholm’s world-class ability to forcefully execute on strategic direction and plans. Börje Ekholm brings years of experience from leading a publicly listed company with a strong track record of driving shareholder value,” he added.
In response, Börje Ekholm said, “I am very excited about this opportunity. As the networks and applications become even more important in a 5G connected the world, our customers, and the industry, look for continuous innovation. I look forward to joining the great team at Ericsson and work closely with existing and new customers around the world in shaping the future of our industry.”
Meanwhile, Jan Frykhammar will remain interim CEO until January 16, 2017.