SOURCE: Ericsson

October 26, 2009 03:09 ET

Jan Frykhammar appointed CFO of Ericsson as of November 1, 2009

STOCKHOLM, SWEDEN--(Marketwire - October 26, 2009) -

Ericsson's (NASDAQ: ERIC) in-coming CEO Hans Vestberg has appointed Jan Frykhammar CFO of November 1, 2009. Frykhammar will also become Executive Vice President as of January 1, 2010. Jan Frykhammar is currently head of business unit Global Services and Senior Vice President.

Jan Frykhammar joined Ericsson in 1991 after he had earned a Bachelor of Business Administration and a degree in Economics at the University of Uppsala, Sweden. He has held various managerial positions in Ericsson as well as with Ericsson Mobile Phones. Frykhammar was appointed Senior Vice President and head of business unit Global Services as of January 1, 2008. He will remain as head of business unit Global Services until a successor has been appointed.

Hans Vestberg says; "The search process has been thorough and I have met a number of external as well as internal candidates, non-Swedes and Swedes. Jan Frykhammar has a documented experience of the telecom industry as well as excellent managerial skills. He has also held various positions in Ericsson and has a deep knowledge about our business. After the careful selection process, he came out as the number one candidate and I am happy to welcome him in his new role in the group management team."

Jan Frykhammar was born 1965. He is married and has three children. Hans Vestberg will take on the position as President and CEO as of January 1, 2010. He is replacing Carl-Henric Svanberg who will take on the position as Chairman of BP as of January 1, 2010.

Notes to editors:

Jan Frykhammar's bio and photos are available on Announcement of Hans Vestberg's appointment as President and CEO Ericsson's multimedia content is available at the broadcast room:

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 1 billion subscribers and has a leading position in managed services. The company's portfolio comprises of 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 "to be the prime driver in an all-communicating world" through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 75,000 employees generated revenue of SEK 209 billion (USD 32.2 billion) in 2008. Founded in 1876 with the headquarters in Stockholm, Sweden, Ericsson is listed on OMX NASDAQ, Stockholm and NASDAQ New York.


Ericsson Corporate Public & Media Relations
Phone: +46 10 719 69 92

Ericsson Investor Relations
Phone: +46 10 719 00 00

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 October 26, 2009, at 08.00am CET.

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