Leif Johansson announced that he will not stand for re-election for the top position of Sweden-based telecom equipment maker.
Leif Johansson has been the chairman of the Ericsson board since 2011. Ericsson also got a new CEO when Borje Ekholm took over as CEO in the first quarter of 2017. The company is going through a tough phase.
Ericsson said the Election Committee has initiated work to find a replacement for Leif Johansson as chairman of the AGM 2018.
Leif Johansson said: “The strategy, the Board of Directors and the major shareholders behind, gives good prospects of realizing Ericsson’s full potential. The company has now entered a new phase with the focus on implementation, and also with a new ownership structure.”