Ericsson Names New Chief Financial Officer

­Ericsson's in-coming CEO Hans Vestberg has appointed Jan Frykhammar CFO as his replacement in the role with effect from next month. He is currently head of business unit Global Services and Senior Vice President, and will also become Executive Vice President in the New Year.

Jan Frykhammar joined Ericsson in 1991 after he had earned a Bachelor of Business Administration and a degree in Economics at the University of Uppsala, Sweden. He has held various managerial positions in Ericsson as well as with Ericsson Mobile Phones. Frykhammar was appointed Senior Vice President and head of business unit Global Services as of January 1, 2008. He will remain as head of business unit Global Services until a successor has been appointed.

Hans Vestberg says; "The search process has been thorough and I have met a number of external as well as internal candidates, non-Swedes and Swedes. Jan Frykhammar has a documented experience of the telecom industry as well as excellent managerial skills. He has also held various positions in Ericsson and has a deep knowledge about our business. After the careful selection process, he came out as the number one candidate and I am happy to welcome him in his new role in the group management team."

Hans Vestberg will take on the position as President and CEO as of January 1, 2010. He is replacing Carl-Henric Svanberg who is leaving to take up the Chairman's role at petroleum group, BP.

Posted to the site on 26th October 2009