• Sweden edition
 
Ericsson chairman announces resignation

Ericsson chairman announces resignation

Published: 06 Dec 2010 11:34 GMT+01:00
Updated: 06 Dec 2010 11:34 GMT+01:00

Treschow was appointed chairman of Ericsson in March 2002. One of his first measures was to initiate and successfully accomplish a rights offering of 30 billion kronor ($4.3 billion).

"When I joined, 1 billion people had access to a mobile phone. Today, more than five billion of the world's population has access to mobile communications," Treschow said in a statement on Monday.

Treschow was appointed chairman of Ericsson in March 2002. During his term, he appointed two CEOs: Carl-Henric Svanberg, who served from 2003 to 2009 before becoming chairman of embattled oil giant BP, and current CEO Hans Vestberg.

One of Treschow's first measures as chairman was to initiate and successfully accomplish a rights offering of 30 billion kronor ($4.3 billion).

Under his stewardship, Ericsson has strengthened its financial position and played an active role in the industry consolidation. He successfully negotiated the acquisitions of fixed infrastructure firm Marconi, edge router specialist Redback Networks, Tandberg Television and Nortel's CDMA, LTE and GSM assets.

Ericsson reported turnover of 206 billion kronor in 2009 and 88,000 employees in more than 175 countries. The company claims a market share of 40 percent for mobile infrastructure and a leading position in the fragmented services, with a 10 percent market share.

"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," said Treschow.

"It is an exciting future ahead for 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," he added.

Two billion phone users are dependent on Ericsson's network support on a daily basis. At the end of last year, Ericsson had a net cash position of 36.1 billion kronor.

Treschow is also chairman of Anglo-Dutch consumer products maker Unilever and previously served as chairman at Swedish appliance manufacturer Electrolux from 2004-2007.

From 1997 to 2002 he was president and CEO of Electrolux and from 1991 to 1997 and held the same positions at Swedish industrial tooling and equipment maker Atlas Copco.

Ericsson's nomination committee, appointed by the largest owners, will propose a new chairman at the company's annual meeting next year or in 2012.

Following Monday's news, Ericsson saw its share price drop 1.14 percent in early afternoon trading on the Stockholm stock exchange, which was down 0.42 percent.

AFP/The Local (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

13:09 December 6, 2010 by calebian22
Great CV, too bad, "responsible for chairing an organization that produces a decent mobile phone," isn't a line item.
Today's headlines
SAS resumes flights from Stockholm to Tel Aviv
File photo: Johan Nilsson/TT

SAS resumes flights from Stockholm to Tel Aviv

SAS Scandinavian Airlines has resumed flights from Stockholm to Tel Aviv after the airline completed a 'thorough security analysis' of the situation in Israel. READ  

Swedish man stabs woman and kills himself
A Stockholm police car. File photo: TT

Swedish man stabs woman and kills himself

A man and a woman, reported to be both 45-years-old, were found dead on Thursday in an apartment on Lidingö in Stockholm with police suspecting a murder and suicide. READ  

Police fear arson after Sweden mosque fire
Central Norrköping in eastern Sweden. Photo: Stefan Vilcans

Police fear arson after Sweden mosque fire

Swedish police suspect arson after buildings at a mosque in Norrköping in eastern Sweden burned down in the early hours of Friday morning. READ  

Opinion
'Moving wasn't a choice, Sweden called to me'

'Moving wasn't a choice, Sweden called to me'

Caught in an identity limbo and surrounded by often apathetic "love refugees", The Local's resident Swedophile Solveig Rundquist wonders if she's the only expat who moved to Sweden for the culture alone. READ  

Swedish inmates to receive digital tablets
Photo: Hasse Holmberg/TT

Swedish inmates to receive digital tablets

Sweden's Prison and Probation Services are beginning a project in which suspected criminals will be given surf tablets to look at evidence against them. READ  

Snake hunt after man claims playground bite
The Swedish adder. Photo: Piet Spaans

Snake hunt after man claims playground bite

A man claimed to have been bitten by a poisonous snake at a paddling pool in Gothenburg on Thursday prompting a hunt which ended without a trace of the offending reptile. READ  

Stockholmers sound off on 'beautiful Swedes'
Swedish girls in Stockholm. Photo: Susanne Walström/Imagebank Sweden

Stockholmers sound off on 'beautiful Swedes'

Following a Nordic survey in which Swedes were voted the "most attractive", The Local hit the streets to see what Stockholmers thought. READ  

Sweden keeps eye on Norway bomb threat
Norwegian police car at Oslo Gardemoen Airport. Photo: TT

Sweden keeps eye on Norway bomb threat

The Swedish Security Service (Säpo) have said that an "imminent terror threat" to neighbouring Norway doesn't yet affect Sweden although developments are being closely followed. READ  

Seven-year-old Swede cycles to Berlin
The Blomdahl family in Berlin. Photo: Private

Seven-year-old Swede cycles to Berlin

Edvin Blomdahl is seven-years-old. He also cycled from Sweden to Berlin, a journey of 370 kilometres, in four days. READ  

Opinion
'Gaza conflict needs help, not empty rhetoric'
Demonstrations at Sergels Torg in Stockholm. Photo: Kent Vilhelmsson

'Gaza conflict needs help, not empty rhetoric'

As the rhetoric rises at demonstrations in Swedish cities, Stockholm-based Israeli writer David Stavrou calls on Swedes to think before they shout and to cast a critical eye over much that is written and said about the conflict in Gaza. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Society
Swedes voted 'most beautiful' in the Nordics
Business & Money
Sweden demands EU clarity on Bitcoin tax
National
Swedish organic sales enjoy 'amazing' growth
Photo: Johan Nilsson/TT
Society
What's On in Sweden
Gallery
People-watching July 23
Blog updates

24 July

Sharing our Pride: Celebrating Love & the LGBT Community! (Stockholm in my American Heart) »

"It’s mid- July in Stockholm, and with much of the city on vacation, things can seem a little quiet – the streets, the bus, and the grocery store. One thing that has not paused for a summer break, though, is preparation for Stockholm’s Pride Festival, which will take place from July 28 to August 2...." READ »

 

22 July

Det (The Swedish Teacher) »

"Hej! “Det” is a personal pronoun that can be used in many ways, and it might me confusing if you always translate “det” to English “it”. In this article I will do my best to guide you to how to use “det”. Det replacing a word, a phrase or a clause Let us begin with the less confusing..." READ »

 
 
 
National
Swedish cops elect not to shoot 'angry elks'
Business & Money
New alcohol retail rules threaten micro-breweries
Gallery
People-watching Båstad
Business & Money
Sweden falls to third in global innovation index
Society
Swedish ornithologists keep webcam watch
Photo: Andreas Nordström/Image Bank Sweden
Gallery
Top ten Swedish beach hot spots
Tech
Swedish Wiki vet sets new content record
Photo: Fastighetsbyrån
Lifestyle
In Pictures: The Local's Property of the Week
Photo: Finest.se
Gallery
People-watching July 15-16
Photo: Ola Ericson/Image Bank Sweden
Society
What's On in Sweden
Photo: Lisa Mikulski
National
Hope springs eternal for expat pet shop owner
Gallery
Princess Estelle steals limelight at mum's birthday
National
Swedes risk infants' lives by covering up prams
National
Swede runs for office just using Bitcoin funds
Gallery
People-watching July 11-13
National
Malmö mayor slams Danish beggar ban
National
Swedish anti-abortion midwife sues county
National
Swede's salary chopped for Facebook use
Sponsored Article
Introducing... Your finances in Stockholm
Sponsored Article
Introducing... Housing in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

717
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
If you want to drink, that’s your business.
If you want to stop, we can help.

Learn more about English-language Alcoholics Anonymous in Sweden. No dues. No fees. Confidentiality assured.
AA-EUROPE.ORG/SWEDEN
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se