Ericsson Chairman of the board Leif Johansson presents Borje Ekholm as the new CEO for the Swedish telecom company Ericsson during a press conference at the company’s headquarters in Kista, Stockholm, Sweden October 26, 2016. TT News Agency/Janerik Henriksson/ via REUTERS
The chairman of struggling Swedish mobile equipment firm Ericsson said on Wednesday he would not stand for re-election at the company’s next AGM in 2018.
STOCKHOLM The chairman of struggling Swedish mobile equipment firm Ericsson said on Wednesday he would not stand for re-election at the company’s next AGM in 2018.
Leif Johansson, who has been chairman since 2011, said Ericsson’s new CEO, Borje Ekholm, had put in place a turnaround strategy and there had been changes in ownership.
“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,” he said in a statement.
(Reporting by Simon Johnson- Editing by Susan Fenton)
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