STOCKHOLM, Sweden-L.M. Ericsson’s stock soared more than 10 percent on the company’s appointment of Carl-Henric Svanberg to replace Kurt Hellstrom as chief executive officer and president.
The new helmsman, who will assume office April 8, is presently the chief executive officer of international lock group Assa Abloy.
“I have always perceived Ericsson as the world’s strongest company,” say Svanberg. “I will take over in hard but exciting times. I am humbled by the task, but I have great confidence in Ericsson and its employees.”
Hellstrom will remain with the company until the end of the year.
