Ericsson Chairman to Step Down
July 05 2017 - 3:55AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Leif Johansson, Chairman of Sweden's Ericsson AB
(ERIC), Wednesday announced he will be stepping down from his
position after six years in the job.
Mr. Johansson said he wanted to give the company plenty of time
to find his replacement, hence his announcement that he won't make
himself available for re-election at next year's annual
shareholders meeting.
The wireless telecommunications equipment supplier named Börje
Ekholm chief executive earlier this year and launched a turnaround
plan, based partly on cutting costs amid a fiercely competitive
telecom equipment market.
"It is natural to let the owners jointly propose a chairman and
well ahead of this I want to announce that I will not be available
for a next term," Mr. Johansson said.
Mr. Johansson's career has seen him serve as chief executive of
Electrolux AB and Volvo AB, before becoming Chairman of Ericsson in
2011.
Ericsson's nomination committee has initiated the search for a
replacement.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@domchopping @WSJNordics
(END) Dow Jones Newswires
July 05, 2017 03:40 ET (07:40 GMT)
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