After the firing of Ericsson’s CEO Hans Vestberg yesterday, the hunt for a new CEO begins, a process that could take a long time, reports DI.
Criticism against Vestberg had increased in recent months and one of the major reasons for Vestberg’s departure is that he did not succeed in lifting the company’s share value. Among other things Vestberg has been criticised for his extravagant travel and excessive salary, while the company’s share price was idling. Furthermore he was under fire for taking on the role of chair of the Swedish Olympic Committee, taking focus away from Ericsson.
Chair of the board Leif Johansson wants the successor to have knowledge of technology, someone who can develop Ericsson outside the traditional telecoms industry. “On the media side, for example administering TV channels, but also connecting cars with networks and other services,” he says.