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

Telefonaktiebolaget LM EricssonAnnouncement

11/10/2023 08:15

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RNS Number : 7729P  Telefonaktiebolaget Lm Ericsson  11 October 2023

Ericsson announces changes to the Executive Team

·    Chris Houghton, currently Senior Vice President and Head of Market
Area North East Asia, is appointed Chief Operating Officer.

·    Åsa Tamsons, currently Senior Vice President, Business Area
Technologies & New Businesses, is appointed Head of Business Area
Enterprise Wireless Solutions.

Ericsson (NASDAQ: ERIC) today announces the appointment of Chris Houghton to
Chief Operating Officer (COO) and Åsa Tamsons to Head of Business Area
Enterprise Wireless Solutions. Both Mr. Houghton and Ms. Tamsons will report
to Börje Ekholm, President and CEO of Ericsson. These appointments underscore
Ericsson's commitment to accelerating its business transformation.

Chris Houghton, who is currently Senior Vice President, Market Area North East
Asia, has been with Ericsson for 35 years and brings deep institutional
knowledge across key markets and operational areas of the business. In the new
role, Mr. Houghton will focus on cross group initiatives, including ongoing
cost efficiency initiatives.

Åsa Tamsons, currently serving as Senior Vice President, Business Area
Technologies & New Businesses (BTEB), is appointed Head of Business Area
Enterprise Wireless Solutions. Ms. Tamsons brings a strong track-record in
developing and growing new businesses. In her new role, Ms. Tamsons will focus
on growing Enterprise Wireless Solutions but also to increase the pace towards
breakeven.

On the new appointees, Börje Ekholm notes: "The Chief Operating Officer's
objective will be to strengthen and oversee the operational execution across
the Group and to enhance alignment and co-ordination across operational areas.
This will enable me to fully focus on the key strategic priorities of our
business. I'm happy that Chris with his extensive international experience has
accepted to take on this new role within Ericsson".

Börje Ekholm continues: "BTEB's role within Ericsson is to create and scale
strategic growth businesses that deliver long term profit and positive impact
on people and our planet. During Åsa's tenure BTEB has reached profitability
and Åsa has done a great job over the last five years. I'm now looking
forward to having her head another very important business area within
Ericsson and drive growth and profitability improvements."

The appointments of Chris Houghton and Åsa Tamsons are effective as of
November 1, 2023. As of then, Business Area Technologies & New Businesses,
will report to the Chief Operating Officer.

Ericsson today also announces that George Mulhern, Senior Vice President and
Head of Business Area Enterprise Wireless Solutions (BEWS), will become
advisor to BEWS from November 1, 2023, and retire from Ericsson during 2024.
Nunzio Mirtillo, Senior Vice President and Head of Market Area South East
Asia, Oceania & India, will retire from Ericsson during 2024.

Mr. Ekholm comments: "Nunzio has been with Ericsson for 35 years and has
contributed immensely to the success of the Company. His dedication and
everlasting focus on growth has been an inspiration to me and many
colleagues.  I wish him all the best in his future endeavors."

"We are the world's foremost expert in wireless edge solutions and dedicated
networks offerings to enterprises. George has contributed greatly to the
process of integrating Cradlepoint into the Ericsson offering. I wish him all
the best."

Recruitment processes to appoint successors to Mr. Houghton as Head of Market
Area North East Asia, and Mr. Mirtillo as Head of Market Area South East Asia,
Oceania & India, have been initiated. Mr. Houghton remains in the role
until the process has been concluded.

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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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