Ericsson Chairman Johansson to step down

NEW DELHI: Swedish telecom equipment maker Ericsson Chairman Leif Johansson said that he will be stepping down from his position after six years in the job.

"I have had the privilege to serve as Chairman of the Board since 2011. It has been an exciting but also challenging time. 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," said Johansson.

"This strategy, which is supported by the Board and the major owners, creates a solid foundation for realizing Ericsson’s full potential. 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," he added.

His career has seen him serve as chief executive of Electrolux AB and Volvo AB, before becoming Chairman of Ericsson in 2011.

However, Swedish telecom equipment maker  said that nomination committee has initiated the work to find a replacement to Leif Johansson in time for the Annual General Meeting of shareholders in 2018.