Borje Ekholm, the former CEO of the Wallenberg family’s main investment vehicle, Investor, has been named CEO of Ericsson, the Swedish maker of telecoms equipment. Investor is the largest shareholder in Ericsson,
a
Financial Times
report noted.
Ekholm has served on Ericsson’s board since 2006. The company is in “deep trouble” and has issued a profit warning, the article said.
“Mr. Ekholm’s strong connections to the Wallenbergs — who own 21 per cent of Ericsson through Investor — should quieten speculation about their continued commitment to the company,” the
FT
article said. (Source:
Financial Times
, Oct. 27, 2016.)
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