Ericsson Ousts Vestberg as CEO After Turnaround Plans Stall

Updated on
  • CFO Jan Frykhammar to take over until replacement is found
  • Board: ‘time is right for a new leader to drive next phase’

Ericsson CEO Vestberg Ousted as Turnaround Stalls

Ericsson AB ousted Chief Executive Officer Hans Vestberg, after revenue and profit sagged and an array of investigations at the Swedish maker of wireless-networking equipment led to growing shareholder unease.

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