CEO out, CFO moves up at Ericsson

Filed under: Misc

In an industry wracked with consolidation and tough economic realities, Ericsson's been an unusually steady force -- probably thanks to the fact that it's a giant in wireless infrastructure -- so we're pretty confident in saying that the departure of CEO Carl-Henric Svanberg to become head honcho over at BP isn't an indication that there's trouble brewing in the ranks. That's especially true considering that Svanberg will stay on as CEO until the end of the year and will remain on Ericsson's board beyond that. Replacing him will be up-and-comer Hans Vestberg, who currently serves as CFO -- so it's not that big of a move, and apparently one that's been expected among Ericsson's watchers for some time. How this'll ultimately affect the dynamic between Ericsson and fellow joint-venture parent Sony is unclear, but if this means we can get a PSP phone faster, we're totally behind ya, Hans.

[Via mocoNews]

CEO out, CFO moves up at Ericsson originally appeared on Engadget Mobile on Fri, 26 Jun 2009 11:41:00 EST. Please see our terms for use of feeds.

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