Ericsson Rebuilds Exec Team

STOCKHOLM -- Per-Arne Sandström was today appointed First Executive Vice President and Deputy CEO at Ericsson. Karl-Henrik Sundström was appointed Chief Financial Officer and Executive Vice President. Per-Arne Sandström and Karl-Henrik Sundström will together with Ericsson's new President and CEO Carl-Henric Svanberg form the new Executive Management Team for the Ericsson Group, effective April 8, 2003.Per-Arne Sandström has 15 years of experience from Ericsson including the position as President of Market Area North America and as Head of former Business Unit GSM Systems. Per-Arne Sandström has in his previous role as Chief Operating Officer driven the restructuring of the company. He will continue heading the ongoing restructuring work and will also increase his focus on business relations.Karl-Henrik Sundström has 18 years of experience from different leading capacities within Ericsson, most recently as Vice President and General Manager Business Unit Global Services. Karl-Henrik Sundström has previously been Head of Market Unit Australia and New Zealand. He has also been Senior Vice President and Corporate Treasurer as well as responsible for customer financing and has ten years of experience from various business controlling positions.Sten Fornell, currently CFO, will leave the company at the end of 2003 and will be advising the new executive management in financial matters during the remainder of the year."The new Ericsson Executive Management Team gives us continued strong focus on our restructuring work as well as high customer focus", says Carl-Henric Svanberg, appointed new CEO and President of Ericsson. Carl-Henric Svanberg will take office in connection to the Annual General Meeting on April 8, 2003.LM Ericsson