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Europe

Ericsson's New Numbers Man

11:45 AM -- Ericsson AB (Nasdaq: ERIC) today announced who will sit in Hans Vestberg's hot CFO seat when he takes over as CEO on January 1 next year. Jan Frykhammar, currently head of Ericsson's Global Services business unit, will be the new numbers man at the Swedish giant. (See Ericsson Appoints CFO and Ericsson Names New CEO.)

And a hot seat it is: Frykhammar has a tough job ahead of him, based on Ericsson's third-quarter results, which revealed drops in both sales and profits. But since Global Services revenue growth has helped to compensate for a slowdown in equipment sales, he may have some ideas for keeping Ericsson in good financial shape. (See Pressure Tells on Ericsson's Q3 and Services Save Ericsson in Q2.)

— Michelle Donegan, European Editor, Unstrung

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