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May 26, 2012
Ericsson tips Volvo head as new board chair
Published: 3 Mar 11 10:48 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/32378/20110303/
Swedish group Ericsson, the world's biggest mobile phone network maker, said Thursday it planned to appoint Volvo chief executive Leif Johansson as chairman of its board.
- Truckmaker Volvo drives back to profit in 2010 (4 Feb 11)
- AB Volvo CEO to resign next summer (8 Dec 10)
- Ericsson chairman announces resignation (6 Dec 10)
He had been Volvo's chief executive since 1997 and refocused the company on heavy vehicles, selling its car business to Ford in 1999. It was subsequently bought by China's Geely in August.
Ericsson's current chairman Michael Treschow took over in March 2002 and announced in December he would step down.
He also chairs the Unilever board.
Handelsbanken analyst Martin Nilsson said Johansson's appointment would not have a significant impact on Ericsson.
"Ericsson's business is not driven by owners, it is essentially driven by the chief executive and the management. Therefore the choice of chairman is less important than in many other companies," Nilsson told Dow Jones Newswires.
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Did you pull this out of your arse-hole?
Ericsson is a world-leading provider of telecommunications equipment and related services to mobile and fixed network operators...