Ericsson Appoints Börje Ekholm As New President And CEO - Quick Facts

(RTTNews) - Swedish telecom operator Ericsson (ERIC) said its Board of Directors has appointed Börje Ekholm as President and CEO, effective January 16, 2017.

Börje Ekholm will also remain a member of the Board of Directors of Ericsson. Jan Frykhammar will remain interim CEO until January 16, 2017.

Chairman of the Board Leif Johansson said, "Having served on Ericsson's Board of Directors for the past ten years, Börje Ekholm has full understanding of the challenges and the opportunities Ericsson currently faces."

Börje Ekholm joins Ericsson from his current position as CEO of Patricia Industries, a division within Investor AB. Prior to assuming this position in 2015, he held the position as President and CEO of Investor AB between 2005 and 2015.

Previous positions also include President of Investor Growth Capital Inc., as well as positions with Novare Kapital AB and McKinsey & Co Inc.

Börje Ekholm is a member of the Board of Directors for Telefonaktiebolaget LM Ericsson, Alibaba Inc., NASDAQ OMX Group Inc. and Trimble Navigation Ltd.