Ericsson announced Jan Frykhammar, the man charged with leading the company in 2016 for a six-month period, will leave effective today (7 November), as part of a wider executive team shake-up.
In a statement, Ericsson said Frykhammar (pictured), who joined the company in 1991 and held a number of leadership positions during his tenure, is departing to “pursue other opportunities”.
The move is likely to be a cost-cutting measure in line with the vendor’s major restructuring efforts.
Frykhammar was appointed interim president and CEO from July 2016 to January 2017, as the struggling company searched for a new CEO to fill the position left vacant by Hans Vestberg.
After Borje Ekholm took the reins in January, Frykhammar took a role as adviser to the CEO, focusing on corporate governance and efficiency.
Prior to his short stint as CEO, he was the company’s CFO from 2009 to 2016.
Joining Frykhammar in pursuing other opportunities is Magnus Mandersson, EVP, adviser to the CEO and member of the executive team, who also leaves effective today.
Mandersson joined Ericsson in 2004 and served in several senior positions including head of Ericsson’s business unit Global Services, head of Ericsson’s business in northern Europe and SVP for business unit CDMA Mobile Solutions.
Ericsson said Mandersson had most recently supported Ekholm by focusing on customer relationships, and was appointed to the executive team in 2009.
Filling one of the holes will fall to Fredrik Jejdling, who is appointed EVP in addition to his current role as head of business area networks.
Ekholm said in the statement Frykhammar had been invaluable to Ericsson during his 26-year stay: “not least when stepping up as interim CEO in a time when leadership and momentum was of utmost importance”.
Such leadership appears to remain critical, with Ericsson’s Q3 earnings showing its financial woes continue.
The company slipped a net loss of SEK4.3 billion ($526.6 million), as ongoing restructuring efforts continue to impact the top line.