The ceo of Ericsson, Hans Vestber, decided….
to withdraw from the company, highlighted in the communication, as well as the Swedish maker of telecommunications equipment trying to remain profitable as a result of the slowdown in demand and intense competition.
“Hans Vestberg is resigning from the position of president and CEO and a member of the board.p. Ericsson, with immediate effect,” announced the company. Jan Frykhammar, cfo, will take over temporarily the position of CEO until replacements.
On 19 July, Ericsson announced further cuts in costs and reductions in jobs after a drop of 24% in net profit in the second quarter, as the company is facing strong competition and weak demand in most markets.
Source
He resigned the ceo of Ericsson
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