The board of directors of both parent companies agreed upon the composition of Sony Ericsson’s board. Presidents of the parent companies, Kurt Hellström and Kunitake Ando, hold seats, as do Chief Financial Officer Sten Fornell (Ericsson) and his Sony counterpart Teruhisa Tokunaka. The remaining seats go to Morgan Bengtsson, President of Ericsson Japan; Otto Zich, Chairman and Chief Executive Officer of Sony Europe; and the President and Executive Vice President of Sony Ericsson, Katsumi Ihara and Jan Wäreby respectively.
The joint venture will begin operations October 1, upon approval by regulators. Profitability is expected from day one and the equally owned company aims to become a leading player in both mobile phones and other handheld multimedia communication products.
SOURCE: COMPANY PRESS RELEASE
