STOCKHOLM, Oct 26, (APP/AFP) – Struggling Swedish telecoms equipment maker Ericsson on Wednesday appointed Borje Ekholm as new CEO, betting on continuity with an executive coming from its board of directors and its main shareholder. Ericsson, which announced it would cut up to 4,000 jobs in Sweden earlier this month, was seeking a new head following the ousting of Hans Vesterberg in July after seven years. From 2000 to 2015, Ekholm served as president of the Swedish firm Investor, controlled by the wealthy Wallenberg dynasty.
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Ericsson bets on continuity with new CEO from Investor
