Swedish company Ericsson hires CEO Hans Vestberg

Q.  Swedish mobile telecoms gear maker Ericsson parted ways with which senior executive on 25th July, 2016?
- Published on 26 Jul 16

a. CEO
b. MD
c. Chairman
d. CMD

ANSWER: CEO
 
Swedish mobile telecoms gear maker Ericsson has parted ways with CEO Hans Westberg on 25th July, 2016 following a series of bad results.
  • Vestberg came under fire for leadership and pay factors after weak results, though he has served longer than any of his three predecessors.
  • Ericsson shares went up 3 percent in 1230 GMT, losing 21 percent so far this year.
  • The removal of the CEO was taken as a positive step by the markets therefore.

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