Ericsson Names New CEO
Carl-Henric Svanberg will take the helm of the Swedish wireless equipment maker next month, replacing the retiring Kurt Hellstrom.Swedish wireless telecommunications equipment maker Ericsson AB last week named Carl-Henric Svanberg its new CEO and president. Svanberg, 50, will take the helm on April 8, said officials at the Stockholm company. Svanberg will replace Kurt Hellstrom, who announced that he will retire as he approaches age 60.
"[Svanberg] will continue Kurt Hellströms successful work in controlling Ericssons costs, while keeping up our leading market position," said Michael Treschow, Ericssons chairman of the board, who the company put in place last year to work on cutting costs.