REG - Telefon AB Ericsson - Ericsson announces CFO transition

Telefonaktiebolaget LM EricssonAnnouncement

18/04/2023 07:00

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RNS Number : 5017W  Telefonaktiebolaget Lm Ericsson  17 April 2023

Ericsson announces CFO transition

Ericsson (NASDAQ: ERIC) today announced that Carl Mellander, the Company's
Chief Financial Officer, will step down at the end of the first quarter 2024.
Mr. Mellander has been with Ericsson for over 25 years and has been a member
of its Executive Team since 2016. A recruitment process will be initiated to
appoint a successor.

Börje Ekholm, President and CEO, comments: "For almost 7 years Carl has been
a valued member of the Executive Team and instrumental in the turnaround of
Ericsson. We have come to a mutual agreement that this is a good time for a
change, as the turnaround phase is completed and the foundation for the next
chapter of Ericsson's strategy has been laid. During his tenure as CFO,
Ericsson regained its technology leadership and significantly strengthened its
financial position. With his dedicated leadership and broad background in
Ericsson and other companies, Carl has successfully built Ericsson's finance
function and been an integral part in closing key strategic acquisitions as
well as enhancing our compliance program. I wish him all the best in his
future ventures. I am happy he will stay on in the role until the end of Q1
2024, which allows for finding and ensuring a smooth handover to a successor."

Carl Mellander comments: "It has been an incredible privilege to serve as
Ericsson's CFO during these soon 7 years and to work with such an
extraordinary group of people. I am deeply proud of the work we have done in
transforming the Company; Ericsson is well positioned globally to continue
building on its industry-leading position and to expand into enterprise. If
there was ever a good time for me to move on to new career adventures, I feel
that this moment is it, and I am excited about what the future might bring.
Meanwhile I will continue in full capacity as CFO during this period. I will
always follow Ericsson with passion and pride as it keeps transforming
society."

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ABOUT ERICSSON:

Ericsson enables communications service providers and enterprises to capture
the full value of connectivity. The company's portfolio spans the following
business areas: Networks, Cloud Software and Services, Enterprise Wireless
Solutions, Global Communications Platform, and Technologies and New
Businesses. It is designed to help our customers go digital, increase
efficiency and find new revenue streams. Ericsson's innovation investments
have delivered the benefits of mobility and mobile broadband to billions of
people globally. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq
New York. www.ericsson.com (http://www.ericsson.com)

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