Börje Ekholm has this week formally taken his position as the global CEO of Ericsson, substantively replacing Jan Frykhammar, who has been temporarily handling the role since October last year.
Frykhammar has been acting as the Swedish firm’s CEO since late July last year when former CEO Hans Vestberg was forced to step down by Ericsson’s board in July 25, 2016.
(TOP: Börje Ekholm, Ericsson new President and CEO).
According to a statement, Frykhammar now assumes a new role as Executive VP and Advisor to the CEO, providing crucial support to Börje Ekholm during the transition period and will focus on corporate governance and efficiency. He will also remain a member of the firm’s Executive Leadership Team.
Another exec, Magnus Mandersson remains Executive VP and Advisor to the CEO, focusing on customer relationships. Mandersson is also Chairperson of four out of Ericsson’s ten regions.
As part of the new management structure, Carl Mellander remains acting CFO and a member of the Executive Leadership Team.
Commenting on his new role, Börje Ekholm said: “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.”
Leif Johansson, Chairman of the Board, Ericsson, said: “I am confident that Börje Ekholm will be able to guide Ericsson on the next steps of the company’s development. Having served on the Ericsson Board of Directors for many years, Börje has a deep understanding of the business and the challenges Ericsson currently faces. I also want to express my gratitude to Jan Frykhammar who has served as interim CEO since July last year and who has led the company in a very dedicated and professional way.”