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Ericsson CEO Vestberg steps down with immediate effect

2016-07-25 08:22:00| Telecompaper Headlines

(Telecompaper) Hans Vestberg has stepped down as CEO of Ericsson with immediate effect, following reports he was under pressure from shareholders. CFO Jan Frykhammar will take over until a new CEO is found. Ericsson chairman Leif Johansson said the board decided that "in the current environment and as the company accelerates its strategy execution", that "the time is right for a new leader to drive the next phase in Ericsson's development".

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