Ericsson CEO Hans Vestberg sacked

Swedish telecom giant Ericsson today announced that its President and chief executive officer Hans Vestberg has stepped down with immediate effect following poor results. He has also resigned from the Board of Directors of Ericsson. The company said it will start searching for replacement soon.

“If we can, we would like to find someone who has good technology background, and of course the more proven that person is in terms of leadership, the better,” Company chairman Leif Johansson said at a press conference.

After the announcement, Ericsson’s shares gone up by 3%.

Ericsson now needs to focus on smart cost cutting and few takeovers to gain some momentum to compete with rivals Nokia and Huawei.

Sprightly Spirit

About Sprightly Spirit

“I dare do all that may become a man. Who dares more is none”. And all, may be. It may be the vigor. Or the spirit. Or the courage to avoid being “politically correct” or bent. And, ban all averse with immaculate overture of graciously fathomable words firm in views. Subtle. Justifying the undying conscience. Values. Knowledge. And, dares to stay true. True to own. True to the world. And, to the words. With a dream in eyes it exists. In you. In me. In all. The sprite that never shies away. The spirit that never dies!
Tags:

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

Sending

©2024 SpectralHues. Powered by SpectralHues. Designed by Vipul Madhani

Log in with your credentials

Forgot your details?