Ericsson Names New Group CTO

Ericsson (NASDAQ: ERIC) appoints Erik Ekudden as Group CTO and Head of Technology & Architecture, effective July 1, 2017. Ekudden will lead the company's technology strategy with a focus on driving the evolution of the network as the platform to secure the success of Ericsson's service provider customers.

As Group CTO and Head of Technology & Architecture, based in Stockholm, Sweden, Ekudden will be responsible for building on Ericsson's strength in technology to support new and existing customers, focusing on innovation to transform the networks for the future.

Börje Ekholm, Ericsson President and CEO, says: "Ericsson continues to move with speed in revitalizing our technology leadership. Erik has broad experience from the technology area, most recently from seven years in Silicon Valley. He is uniquely qualified to support customers and partners, prepare for the opportunities and challenges of the next wave of technology shifts around 5G, IoT, and digitalization."

For the past seven years, Ekudden has been responsible for Ericsson's technology strategies and industry activities. He has been based in Silicon Valley, immersing himself in the industry, deepening Ericsson's engagement with strategic customers and partners, and driving a forward-looking research agenda. Ekudden joined Ericsson in 1993, holding various positions within research and development. He holds a Master of Science degree in Electrical Engineering from the Royal Institute of Technology in Stockholm.

Ekudden says: "With the development of 5G, we are building a platform for innovation that will create new business models for consumers and enterprises. We see a fundamental shift in networks technology, which will be unprecedented in terms of speed and low latency. My mission will be to define the technology direction of Ericsson and to work closely with customers to design and operate those technologies in the most effective and efficient way. We will do this with a particular focus on the distributed cloud and evolution of mobile systems globally."

Ericsson AB (Nasdaq: ERIC)