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Ericsson Strategy Head Gilstrap Heading Out

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4/14/2014
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STOCKHOLM -- Ericsson (Nasdaq:ERIC) today announced that Douglas Gilstrap will resign from his role as Senior Vice President and Head of Group Function Strategy and leave Ericsson's Executive Leadership Team. Gilstrap joined Ericsson in this role in 2009 and has been responsible for developing Ericsson's business strategy and driving the company's M&A activities during this time. He has also played a key role in dissolving the ST-Ericsson joint venture and integrating the thin modems business into Ericsson; since 2013 he also serves as Chairman of Business Unit Modems.

Hans Vestberg, CEO and President of Ericsson, said: "Douglas has been instrumental in shaping Ericsson's strategy with his broad industry knowledge, business development and transactional skills during the five years that he has been with the company. He has played a leading role in all M&A and key commercial activities during these years, strengthening Ericsson's position across all business segments."

Douglas Gilstrap said: "I am very proud of the work that we have done at Ericsson and how the company has strengthened its position in this transforming and dynamic market."

Ericsson AB (Nasdaq: ERIC)

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