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January 29, 1998

ERICSSON APPOINTS NEW CEO, CHAIRMAN

By CBR Staff Writer

LM Ericsson Telefon AB, which reported strong financial results for 1997 (see Finance) has appointed Sven-Christer Nilsson as president and chief executive, effective March 30. Nilsson succeeds Lars Ramqvist, who will take over as chairman of the board at the Swedish telecommunications equipment company. Ramqvist, in turn, succeeds Bjvrn Svedberg who is leaving the board after 21 years. Nilsson, who has been at Ericsson since 1982, is currently head of the company’s cellular systems – American standards division, one of three within the company’s mobile systems business unit. A spokesperson for Ericsson said the moves were well-planned and natural, as Ramqvist had originally taken the job for five years, and has held it for eight. Twenty candidates were considered for the post in a process that has taken about six months. Ericsson says a majority of shareholders have already weighed in with support for the changes.

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