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Ericsson chief Hans Vestberg steps down

Hans VestbergEricsson announced that Hans Vestberg steps down as president and CEO and member of the board of directors of Ericsson with immediate effect.
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READ MORE Hans Vestberg to lead Ericsson

Mr. Vestberg joined Ericsson in 1988. He has broad international experience, having held various management positions with Ericsson in China, Brazil, Mexico and the US. He is the international advisor to the Governor of Guangdong, China.

Mr. Vestberg served as Ericsson’s CFO from 2007 to 2009 before becoming President and CEO. He is a leading advocate of the global Sustainable Development Goals, and for the potential of mobility and broadband to help tackle some of the world’s most urgent challenges, such as poverty, climate change and access to health care and education.

Mr. Vestberg is a founding member of the Broadband Commission for Digital Development, where he chairs the task group on the post-2015 development agenda, having previously chaired the Commission’s climate-change working group.

Mr. Vestberg is a member of the Leadership Council of the UN Sustainable Development Solutions Network. As of June 2015, he is also a board member of the UN Foundation.

In January 2016, Mr. Vestberg was honored with the Hunger Hero Award by the UN World Food Programme (WFP) for Ericsson’s pioneering work in providing telecommunications solutions in support of humanitarian response.

Mr. Vestberg earned a Bachelor of Business Administration degree from the University of Uppsala, Sweden, in 1991. He will be available to support the Board and management during his term of notice of six months.

Jan Frykhammar, Executive Vice President and CFO, will assume the CEO position until a new CEO is in office.

Mr. Frykhammar joined Ericsson 1991, and has held various positions in finance and business control. In 2009, Frykhammar became Executive Vice President, CFO and Head of Group Function Finance, and before that he was Head of Business Unit Global Services.

He holds a Bachelor of Business Administration and Economics from the University of Uppsala, Sweden.

Carl Mellander, currently VP & Group Treasurer, is appointed acting CFO with immediate effect.

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