Ekholm calls for ‘courage and reinvestment’ as he is named Ericsson’s new president and CEO

Borje Ekholm, Ericsson's new CEO

Ericsson‘s (NASDAQ:ERIC) Board of Directors has appointed Börje Ekholm as the company’s new president and CEO, with effect from January 16, 2017. Ekholm will also remain a member of the Board of Directors of Ericsson.

Börje Ekholm joins Ericsson from his current position as CEO of Patricia Industries, a division of Investor AB. Prior to assuming this position in 2015, Börje Ekholm held the position as president and CEO of Investor AB between 2005 and 2015. Previous positions also include president of Investor Growth Capital Inc., as well as positions with Novare Kapital AB and McKinsey & Co Inc.

Jan Frykhammar will remain interim CEO until January 16, 2017.

Jan Frykhammar, Ericsson's interim CEO
Jan Frykhammar, Ericsson’s interim CEO

Chairman of the Board, Leif Johansson says: “I am very pleased to announce the appointment of Börje Ekholm. He has a solid understanding of both the technology and business implications of the ongoing convergence of telecoms, IT and media. Having served on Ericsson’s Board of Directors for the past 10 years, Börje Ekholm has full understanding of the challenges and the opportunities Ericsson currently faces.”

Johansson continues: “In the middle of a significant company transformation I am confident that Ericsson will benefit from Börje Ekholm’s world-class ability to forcefully execute on strategic direction and plans. Börje Ekholm brings years of experience from leading a publicly-listed company with a strong track record of driving shareholder value.”

Ekholm says: “I am very excited about this opportunity. As the networks and applications become even more important in a 5G-connected world, our customers and the industry look for continuous innovation. I look forward to joining the great team at Ericsson and working closely with existing and new customers around the world in shaping the future of our industry.”

Speaking to Tiernan Ray at Barron’s, Ekholm said, “the struggles lately are more of an overall market question” than something fundamentally problematic at Ericsson. “I don’t think you can cut your way to success. We need to invest in technology and development, that’s what is going to drive the top line. We need to re-invest in our business.”

Ekholm talked of the need for courage after a difficult year and for reinvestment, and he has spoken of the need for careful acquisitions. He added that Ericsson “can’t cut its way to success,” although further cuts to the company’s cost base seem inevitable.

Börje Ekholm is a member of the Board of Directors for Telefonaktiebolaget LM Ericsson, Alibaba Inc., NASDAQ OMX Group Inc. and Trimble Navigation Ltd. He is also a member of the University Board of KTH Royal Institute of Technology.

Born in 1963, Börje Ekholm holds a Master of Science in Electrical Engineering from KTH Royal Institute of Technology, Stockholm, Sweden, as well as a Master of Business Administration from INSEAD, France.

Commenting on the appointment, Jeremy Cowan, editorial director of IoT Now says, “Above all, Ekholm is there to focus on the worrying numbers already reported by Ericsson, and the lack of an early upturn disclosed by interim CEO, Jan Frykhammer on the latest earnings call. As an Ericsson Board member for the last 10 years, Ekholm is an insider and will know the organisation well. He holds a Masters in Business Administration from the highly respected INSEAD in France, and comes from a financial background, as president and CEO of several capital investment firms. He has also held a senior post at business consultants McKinsey & Co. Inc. It’s an impeccable CV, now we will see what that intellect married to broad business experience can achieve.”

“It is also no coincidence,” Cowan adds, “that Ericsson has appointed someone who sits on the Boards of businesses as diverse as Alibaba Inc., NASDAQ OMX Group Inc. and Trimble Navigation. It will be interesting to see if these connections in China’s e-commerce, North American tech stock management, and the connected global enterprise respectively will bring new opportunities for Ericsson in the near term.”

Report by Jeremy Cowan, editorial director & publisher,
IoT Now, IoT Global Network, and VanillaPlus.



Aeris Intelligent IoT network provides System Loco with reliable connectivity for worldwide track and trace of sustainable IoT-enabled smart pallets

Posted on: July 5, 2022

Aeris, the global Internet of Things (IoT) solutions provider, announced that System Loco, a global provider of supply chain and asset tracking solutions, has selected the Aeris Intelligent IoT Network to provide next generation connectivity to support and manage the worldwide track and trace of smart pallets employed by System Loco’s customers throughout the world.

Read more

Removing IT bottlenecks: The key’s simplicit

Posted on: July 5, 2022

A report by Mulesoft found that the IT teams of just 37% of organisations completed all of their assigned projects last year. Digitalisation can gather valuable data insights and optimise processes, but progress is often held back by the large IT workload such projects create. Here, Johan Jonzon, CMO and co-founder in edge analytics for

Read more

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more

What is IoT?

Posted on: July 7, 2019

What is IoT Data as a new oil IoT connectivity What is IoT video So what’s IoT? The phrase ‘Internet of Things’ (IoT) is officially everywhere. It constantly shows up in my Google news feed, the weekend tech supplements are waxing lyrical about it and the volume of marketing emails I receive advertising ‘smart, connected

Read more
IoT Newsletter

Join the IoT Now online community for FREE, to receive: Exclusive offers for entry to all the IoT events that matter, round the world

Free access to a huge selection of the latest IoT analyst reports and industry whitepapers

The latest IoT news, as it breaks, to your inbox