STOCKHOLM, Sweden—Swedish vendor Ericsson posted a loss of US$377 million in its third-quarter earnings reports just as it announced that its chairman, Lars Ramqvist, would leave the company.
Ramqvist will step down for Michael Treschow, who was president and chief executive officer of Electrolux and director of the board of Investor.
The company also said it is downgrading its outlook for the infrastructure equipment market for next year by about 10 percent.
