New president and ceo for Ericsson
Ericsson's board of directors has announced Hans Vestberg as the company's new president and ceo.
Currently, the telecom equipment manufacturer's cfo and executive vice president, Vestberg will take over the role from Carl-Henric Svanberg, who is moving into the position of chairman at BP.
Michael Treschow, chairman of the Ericsson board of directors, said: "Hans Vestberg will lead Ericsson in a phase where the transformation of telecom operators' networks and implementation of IP based services are crucial in order to continue the company's successful creation of shareholder value."
Svanberg's role will become effective from January 1 2010.
