STOCKHOLM (dpa-AFX) - Ericsson (ERIC), Tuesday has announced changes to its Executive Team and global operating structure, consolidating its market areas for improved efficiency. The company will merge three existing Market Areas-Europe & Latin America, North America, and Middle East & Africa-into two: Market Area Americas, led by Yossi Cohen, and Market Area Europe, Middle East & Africa, led by Patrick Johansson.
As part of the leadership changes, Per Narvinger, currently Head of Cloud Software and Services, has been appointed Executive Vice President and will lead Ericsson's Business Area Networks. Narvinger, who has been with Ericsson since 1997, joined the Executive Team in 2022. Jenny Lindqvist, who currently oversees Europe and Latin America, will take over as Head of Cloud Software and Services. She has been with the company since 2010 and became part of the Executive Team in 2023.
President and CEO Börje Ekholm expressed confidence in Narvinger and Lindqvist, highlighting their leadership and contributions to Ericsson's success. He noted that Narvinger's experience and technological expertise would ensure continued product leadership in network performance and programmability. Lindqvist was recognized for her industry knowledge and ability to drive customer value and partnerships.
Ericsson also announced that Fredrik Jejdling, who has led Business Area Networks since 2017, will step down on March 15, 2025. He will remain an executive advisor until June 30, 2025. Ekholm credited Jejdling for playing a key role in Ericsson's 2017 turnaround and strengthening its position in programmable networks, enabling greater connectivity and monetization opportunities.
Jejdling reflected on his nearly two decades at Ericsson, emphasizing the company's leadership in programmable networks and mobile network accessibility through APIs. He stated that with a strong foundation in place, particularly in key markets like the U.S., India, and Japan, it was the right time for him to pursue new opportunities.
ERIC is currently trading at $8.31 or 4.72% higher on the Nasdaq Global Select Market.
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