REG - Telefon AB Ericsson - Leadership changes to the Executive Team

Telefonaktiebolaget LM EricssonAnnouncement

24/01/2024 17:15

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RNS Number : 8162A  Telefonaktiebolaget Lm Ericsson  24 January 2024

Ericsson announces leadership changes to the Executive Team

·    Niklas Heuveldop, currently Head of Market Area North America, is
appointed new Head of Business Area Global Communications Platform and CEO of
Vonage as of February 1, 2024

·    Yossi Cohen, currently Head of Strategy, Technology, Marketing and
Business Development within Market Area North America, is appointed Senior
Vice President and Head of Market Area North America as of February 1, 2024

·    Rory Read, currently Head of Business Area Global Communications
Platform and CEO of Vonage, has decided to step down from his positions on
February 1, 2024, and leave Ericsson at the end of the first quarter of 2024

Ericsson (NASDAQ: ERIC) today announces the appointment of Senior Vice
President Niklas Heuveldop as new Head of Business Area Global Communications
Platform and CEO of Vonage. Mr. Heuveldop who has headed Market Area North
America since 2017, will take up his new position on February 1, 2024.

Börje Ekholm, President and CEO of Ericsson, comments: "I'm very pleased that
Niklas has accepted to lead Business Area Global Communications Platform at
this pivotal time. The Vonage acquisition and our investments in the global
network platform are foundational to our long-term strategy execution, driving
growth in both the enterprise segment, but also reinforcing our network
infrastructure business," and continues:

"Niklas has proven himself in multiple roles on the executive team. Under his
leadership we have significantly strengthened our position in North America,
expanding our market share with all leading customers in the region and the
industry-defining USD 14 billion deal with AT&T, creates a solid
foundation for our business in the market for years to come. He is also an
important driver of our ongoing organizational transformation, driving ethics,
compliance and operational excellence."

Niklas Heuveldop says: "I am thrilled but also humbled to be offered the
opportunity to ensure that we leverage Vonage's capabilities and the 5G
innovation platform to their full potential - it's a once in a lifetime
opportunity. I move on knowing that we have the best talent in the industry to
serve our customers and Yossi will continue to strengthen our local
capabilities."

Yossi Cohen, currently Head of Strategy, Technology, Marketing and Business
Development within Market Area North America, will replace Mr. Heuveldop as
Head of Market Area North America as of February 1, 2024. Mr. Cohen will be a
member of Ericsson's Executive Team and report to the CEO.

Mr. Cohen has a multifaceted 22-year tenure at Ericsson, brings global
expertise in Technology, Business, Operations, and Innovation. His roles
within Ericsson include Head of Customer Unit Verizon, Global Head of Radio
Sales and Business Management in Stockholm, and Head of Global Customer Unit
Softbank in Tokyo. His experience extends beyond Ericsson, encompassing
positions in a telecommunications technology startup and a mobile operator.

Börje Ekholm says: "Yossi's deep understanding of technology and business
strategy is crucial as we lead in the 5G landscape. His expertise in fostering
dynamic customer relationships and a progressive approach to technology will
be key in shaping our future operations and maintaining our industry
leadership. He has played an important role within our North American
operations for the last seven years and I'm happy that he has accepted to take
on this new role."

Yossi Cohen comments: "I am honored and excited to take this role at a
transformative time in telecom. North America is at the forefront of
technological innovation that turns visions into reality. Our commitment goes
beyond technology; it's about forging enduring customer relationships.
Leveraging Ericsson's 5G leadership, our focus remains steadfast: empowering
customers to unlock potential and drive innovation. This new chapter isn't
just a personal milestone. It's a chance to shape a future collaboratively."

Rory Read, Head of Business Area Global Communications Platform and CEO of
Vonage, will transition from his position on February 1, 2024, and become
advisor to the Business Area. Mr. Read will leave Ericsson at the end of the
first quarter 2024.

Börje Ekholm, President and CEO, says: "We thank Rory for his dedication and
contributions to the integration of Vonage into Ericsson. The Vonage business
and technology remain key to execute on our strategy to expand in Enterprise
and help enable operators to monetize the network features in 5G. We are
discussing network APIs and communications solutions with all customers today,
as they see this as a major opportunity to monetize the networks and in turn
drive further investments in mobile infrastructure.  I wish Rory the very
best in his next endeavor."

Mr. Read adds: "It has been a true honor to lead this talented Vonage team on
this journey - first around the power of the Vonage Communications Platform
and then into the world of 5G with Ericsson. There is no question Ericsson is
shaping the industry landscape by leveraging the full value of 5G and by
creating the world's most powerful innovation platform. Through this platform,
Ericsson will be able to monetize 5G in completely new ways by exposing
advanced network capabilities to the global developer community. The Company
has come a long way towards realizing this strategy and I look forward to
following Ericsson and handing over the reins to Niklas' capable hands."

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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
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