- To capitalize on the convergence of software and services and deliver growth in the core business, a new
Business Area Cloud Software and Services is introduced, combining Business Area Digital Services and Business Area Managed Services. Per Narvinger will head up the unit and will be a member of theEricsson Executive Team. - A new Business Area Enterprise Wireless Solutions, comprising
Cradlepoint and Dedicated Networks, is created to drive the growth plan for enterprise.George Mulhern is appointed head of the unit and will be a member of theEricsson Executive Team. - To simplify and digitalize overall ways of working, a new Group Function Global Operations is introduced. Moti Gyamlani will head up the unit and will be a member of the
Ericsson Executive Team. Arun Bansal ,Jan Karlsson andPeter Laurin will leave the Executive Team.- The new Group structure will take effect
June 1, 2022 .
To lead in the mobile infrastructure business, a
Per Narvinger is appointed Senior Vice President and head of
"Through the new
Business Area Enterprise Wireless Solutions
A new Business Area Enterprise Wireless Solutions, comprised of the current
Åsa Tamsons will continue in her role as Senior Vice President and head of Business Area Technologies & New Businesses which will continue to focus on developing new business solutions to accelerate growth across
"With this change we are taking important steps in our journey to execute on our strategy. The new Business Area Enterprise Wireless Solutions will provide the focus and conditions we need to thrive in the enterprise market and secure the next wave of success for this business. We are also excited to continue to invest in new businesses for our long-term growth through the proven model established in Business Area Technologies & New Businesses. I want to extend a warm welcome to George as he joins
Group Function Global Operations
The company is also changing its group function structure by adding a Group Function Global Operations. This function will combine the many support functions that are currently spread across the Company, including Sourcing, IT, Digital Transformation, Group Sales, Real Estate and the operations parts of the People and Finance Functions. By creating a global operations function,
Moti Gyamlani is appointed Senior Vice President and head of Group Function Global Operations and will be a member of the
"Global Operations is created to achieve best-in class customer and employee experience by simplifying and digitalizing end-to-end process flows in the company. By creating this function, we will be able to better serve the needs of our customers and better support our people, making us more agile and more competitive. It is great to welcome Moti to the Executive Team and look forward to working together with him to create a world class global operations function", says
Executive Team changes
"Arun has been leading our Market Area Europe and
"After turning around the company,
Reporting segments
Following the new group structure,
- Segment Networks (unchanged)
Segment Cloud Software and Services (corresponding to former Digital Services and Managed Services)- Segment Enterprise (Enterprise Wireless Solutions and Technologies & New Businesses). On completion of the acquisition, Vonage will form a separate Business Area included in this segment.
- Segment Other (including media businesses and one-offs)
The new segment reporting structure will be applied from Q3 2022. Restated financials for new segments for 2020 - 2022 will be published in
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About
Forward-looking statements
This release includes forward-looking statements, including statements reflecting management's current views relating to the growth of the market, future market conditions, future events, financial condition, and expected operational and financial performance, including, in particular the following:
- Our goals, strategies, planning assumptions and operational or financial performance expectations
- Industry trends, future characteristics and development of the markets in which we operate
- Our future liquidity, capital resources, capital expenditures, cost savings and profitability
- The expected demand for our existing and new products and services as well as plans to launch new products and services including research and development expenditures
- The ability to deliver on future plans and to realize potential for future growth
- The expected operational or financial performance of strategic cooperation activities and joint ventures
- The time until acquired entities and businesses will be integrated and accretive to income
- Technology and industry trends including the regulatory and standardization environment in which we operate, competition and our customer structure.
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Important factors that could affect whether and to what extent any of our forward-looking statements materialize include, but are not limited to, the factors described in the section "Risk Factors" in the latest interim report, and in "Risk Factors" in the Annual Report 2021.
These forward-looking statements also represent our estimates and assumptions only as of the date that they were made. We expressly disclaim a duty to provide updates to these forward-looking statements, and the estimates and assumptions associated with them, after the date of this release, to reflect events or changes in circumstances or changes in expectations or the occurrence of anticipated events, whether as a result of new information, future events or otherwise, except as required by applicable law or stock exchange regulations.
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