Ericsson: Leif Johansson To Not Stand For Reelection; Begins Search For Chairman

(RTTNews) - Ericsson (ERIC) announced its Nomination committee has initiated search for the replacement to Leif Johansson in time for the AGM of shareholders in 2018. The current Chairman of the Board, Leif Johansson, has informed that he will not make himself available for reelection at the Annual General Meeting of shareholders 2018.

Leif Johansson said, "Börje Ekholm assumed the position as CEO in the beginning of the year and during the first quarter the company presented a new, more focused, business strategy. The company now enters a new phase, with focus on execution, and we also have a new ownership constellation. It is natural to let the owners jointly propose a chairman and well ahead of this I want to announce that I will not be available for a next term."