Michael Treschow to resign as chairman of the Ericsson board
(Thomson Reuters ONE) -
* Michael Treschow has informed the Nomination Committee that he will resign
as Chairman of the Board in 2011 or 2012.
Michael Treschow was appointed Chairman of the Ericsson (NASDAQ: ERIC) Board of
Directors March 27, 2002. One of his first measures was to initiate and
successfully accomplish a rights offering of SEK 30 billion (USD 4.3 billion).
During his time as chairman, Treschow has also appointed and introduced two
Chief Executive Officers; Carl-Henric Svanberg in 2003 and Hans Vestberg in
2009.
Ericsson has grown to a company with a turnover of SEK 206 billion in 2009 and
88,000 employees in more than 175 countries. The company has a solid market
leading position with a market share of 40 percent for mobile infrastructure and
a leading position in the fragmented services business with a 10 percent market
share. Around the clock, every day of the year, 2 billion phone users are
dependent on Ericsson's network support.
During Michael Treschow's chairmanship, Ericsson has strengthened its financial
position and has played an active role in the industry consolidation. At year-
end 2009, Ericsson had a net cash position of SEK 36.1 billion. Among the
acquisitions during Michael Treschow's chairmanship, one finds Marconi (fixed
infrastructure), Redback (Edge routers), Tandberg Television and Nortel's CDMA,
LTE and GSM assets.
"Our founder, Lars-Magnus Ericsson, had a vision when he started the company in
1876 that communication is a basic human need. It has been an exciting journey
to follow Ericsson and the industry during my years' in the company. When I
joined, one billion people had access to a mobile phone. Today, more than five
billion of the world's population has access to mobile communications", said
Michael Treschow.
"Ericsson and the industry are now in the initial phase of rolling out mobile
broadband. Today, less than 400 million people have mobile broadband and in
2015, Ericsson expects more than 3.4 billion people to have mobile broadband. It
is an exciting future ahead of Ericsson, but taking into account its strong
market and financial position, it is now the right time to hand over to a
successor after nine years in this position," concluded Michael Treschow.
Michael Treschow was born in 1943. He is also Chairman of the Board of Unilever
NV and Unilever PLC. Michael Treschow is also a Director of the Board of ABB and
Knut and Alice Wallenberg Foundation. During 2004-2007, he was Chairman of Board
of Directors' of Electrolux. 1997-2002 he was President and CEO of Electrolux
and 1991-1997 President and CEO of Atlas Copco. He has a Master of Science from
the Lund Institute of Technology.
The Nomination Committee, appointed by the largest owners, will propose a new
Chairman of the Board to the Annual General Meeting 2011 or 2012.
Notes to editors:
Photos and bio of Michael Treschow
Appointment of the Nomination Committee
Ericsson is the world's leading provider of technology and services to telecom
operators. Ericsson is the leader in 2G, 3G and 4G mobile technologies, and
provides support for networks with over 2 billion subscribers and has the
leading position in managed services. The company's portfolio comprises mobile
and fixed network infrastructure, telecom services, software, broadband and
multimedia solutions for operators, enterprises and the media industry. The Sony
Ericsson and ST-Ericsson joint ventures provide consumers with feature-rich
personal mobile devices.
Ericsson is advancing its vision of being the "prime driver in an all-
communicating world" through innovation, technology, and sustainable business
solutions. Working in 175 countries, more than 80,000 employees generated
revenue of SEK 206.5 billion (USD 27.1 billion) in 2009. Founded in 1876 with
the headquarters in Stockholm, Sweden, Ericsson is listed on OMX NASDAQ,
Stockholm and NASDAQ New York
www.ericsson.com
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FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Public & Media Relations
Phone: +46 10 719 69 92
E-mail:media.relations(at)ericsson.com
Ericsson Investor Relations
Phone: +46 10 719 00 00
E-mail:investor.relations(at)ericsson.com
Ericsson discloses the information provided herein pursuant to the Securities
Markets Act and/or the Financial Instruments Trading Act. The information was
submitted for publication on December 6, 2010 at 08.00am CET.
Michael Treschow to resign as chairman of the Ericsson board:
http://hugin.info/1061/R/1469169/406461.pdf
Photo - M Treschow, Chairman, Ericsson:
http://hugin.info/1061/R/1469169/406455.JPG
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ericsson via Thomson Reuters ONE
[HUG#1469169]
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Datum: 06.12.2010 - 07:59 Uhr
Sprache: Deutsch
News-ID 49410
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