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Ericsson appoints heads of new business units Radio and Cloud & IP.

Ericsson Appoints Business Unit Leaders

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STOCKHOLM -- Ericsson (NASDAQ:ERIC) today appointed heads of the recently announced new business units, business unit Radio and business unit Cloud & IP. The two units are formed by a split of the current business unit Networks in a move to accelerate transformation and support growth.

Both Bansal and Lindblad are tested leaders with long and solid technical and business experience and extensive experience from key markets. Arun Bansal, currently Head of Ericsson's region South East Asia & Oceania, is appointed Senior Vice President and Head of Business Unit Radio. Bansal has successfully applied his skills in technology and business across a number of markets and functions during his close to 20 years in Ericsson.

Anders Lindblad, currently Head of Ericsson's region Middle East, is appointed Senior Vice President and Head of Business Unit Cloud & IP. In his international career Lindblad has held a variety of positions in business development and commercial operation across countries and regions during his 17 years with Ericsson.

Hans Vestberg, President and CEO of Ericsson, said, "Both Arun and Anders are strong leaders with experience from large organizations. They have been successful in driving growth in very competitive environments. We are committed to maintain our leadership in radio technology while also building a strong position in the cloud and IP space as the market evolves to 5G. I am confident they have the right backgrounds and experience to lead the two new business units with their different business logics and growth opportunities."

Ericsson AB (Nasdaq: ERIC)

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