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Ericsson’s Strategy Head Gilstrap Steps Down After Five Years

April 14 (Bloomberg) -- Ericsson AB, the world’s largest maker of wireless network equipment, said its head of strategy is resigning after five years at the manufacturer.

Douglas Gilstrap, vice president and global head of strategy, will leave on Aug. 1, the Stockholm-based company said in a statement. Gilstrap, who joined in 2009, played a key role in dissolving the ST-Ericsson joint venture and integrating the modem business. Ericsson is searching for a replacement.

Gilstrap was “instrumental” in shaping Ericsson’s strategy and “strengthening Ericsson’s position across all business segments,” Chief Executive Officer Hans Vestberg said in the statement today.

ST-Ericsson, the chip venture with STMicroelectronics NV, was dissolved last year and Ericsson agreed to take on 1,800 of its workers to continue developing modem technology. It bought Piscataway, New Jersey-based Telcordia for $1.15 billion two years ago to strengthen its operations and business support systems market, after acquiring IP-router maker Redback Networks in 2007 for $1.66 billion.

To contact the reporter on this story: Adam Ewing in Stockholm at aewing5@bloomberg.net

To contact the editors responsible for this story: Kenneth Wong at kwong11@bloomberg.net Mark Beech, David Risser

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