REG - Telefon AB Ericsson - Ericsson Extends of Compliance Monitorship

Telefonaktiebolaget LM EricssonAnnouncement

15/12/2022 07:00

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RNS Number : 7644J  Telefonaktiebolaget Lm Ericsson  15 December 2022

Ericsson Announces Extension of Compliance Monitorship

Ericsson (NASDAQ: ERIC) announces that it has agreed with the U.S. Department
of Justice (DOJ) and Securities and Exchange Commission (SEC) to extend the
term of the Company's Independent Compliance Monitor for one year, to June
2024.

In 2019 Ericsson entered into a Deferred Prosecution Agreement (DPA) with the
DOJ and a Consent Judgment with the SEC to resolve violations of the FCPA. As
part of the resolution, Ericsson agreed to engage an independent compliance
monitor for a period of three years while the Company strengthened its culture
and established a rigorous anti-corruption, compliance and controls program.

This extension will allow the company, under the monitorship, to further embed
best in class governance, risk management and compliance frameworks across the
organization.

The Company remains committed to cooperating with the DOJ in connection with
the resolution of the breach notification.

Börje Ekholm, President and CEO, says: "This extension is consistent with our
commitment to continuous improvement of Ericsson's Ethics and Compliance
program. We have made significant progress in changing our culture and
implementing an enhanced compliance framework and system of internal controls,
and we will use this additional time to ensure these improvements are
ingrained in our organization, our daily interactions and the way we do
business. We want to get this right and, to be a true industry leader, we have
to conduct our business in the right way."

Ronnie Leten, Chair of the Board of Directors, says: "We are dedicated to
acting with integrity in everything we do and continuing to align business
operations with strengthened internal controls, governance and risk management
processes. Our work with the monitor has meaningfully advanced our Ethics and
Compliance program, and we welcome this extension of our engagement with the
monitor."

 

NOTES TO EDITORS:

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MORE INFORMATION AT:

Ericsson Newsroom (https://www.ericsson.com/en/newsroom)

media.relations@ericsson.com  (+46 10 719 69 92)

investor.relations@ericsson.com  (+46 10 719 00 00)

 

Contact person

Peter Nyquist, Head of Investor Relations

Phone: +46 705 75 29 06

E-mail: peter.nyquist@ericsson.com

 

Additional contacts

Stella Medlicott, Senior Vice President, Marketing and Corporate Relations

Phone: +46 730 95 65 39

E-mail: media.relations@ericsson.com

 

Media

Kirsty Fitzgibbon, Vice President, Head of External Relations, acting

Phone: +46 730 95 81 57

E-mail: media.relations@ericsson.com

 

Kristoffer Edshage, Head of Financial and Regulatory Communication

Phone: +46 722 20 44 46

E-mail: media.relations@ericsson.com

 

Media Relations

Phone: +46 10 719 69 92

E-mail: media.relations@ericsson.com

 

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)

 

This information is information that Telefonaktiebolaget LM Ericsson is
obliged to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of the contact
person set out above at 10:00 pm CET on December 14, 2022.

 

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