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Global
News
March
3, 2003
Carl-Henric
Svanberg is Ericsson's new boss
SWEDEN
-- Ericsson's board of directors has appointed Carl-Henric
Svanberg as new CEO and president of Ericsson. He will
assume office at Ericsson's AGM on 8 April 8 2003. Svanberg
is presently CEO for the international lock group Assa
Abloy. Ericsson's CEO. Current Ericsson president Kurt
Hellström will stay on with the company until year-end
to secure a successful handover.
Svanberg
has successfully led Assa Abloy in becoming the world's
leading lock maker. He has turned the company into a
highly efficient organisation while distinguishing himself
for his excellent leadership skills.
Michael
Treschow, chairman of the board, Ericsson, said: "Kurt
Hellström has decided to make use of his possibility
to retire at the age of 60. I am pleased to announce
a very competent successor to Kurt Hellström."
Regarding Svanberg, he added: "He will continue
Kurt Hellström's successful work in controlling
Ericsson's costs, while keeping up our leading market
position. Carl-Henric Svanberg will keep the same focus
as Kurt Hellström, namely to make Ericsson return
to profit, cut costs and to strengthen our leading position."
Svanberg
said: "I have always perceived Ericsson as the
world's strongest company. I will take over in hard
but exciting times. I am humbled by the task, but I
have great confidence in Ericsson and its employees."
Kurt
Hellström, CEO and president, Ericsson, added:
"After 18 years with Ericsson, of which almost
four were as president, I am very confident in handing
over to Carl-Henric Svanberg. The telecom industry is
going through tough times, but it is a fundamentally
strong industry with good growth potential."
Contact:
Ericsson
Tel: +46-8719-4044
Email: henry.stenson@lme.ericsson.se
Web: www.ericsson.com
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