Telefonaktiebolaget LM Ericsson has appointed Per Narvinger as its new CEO, succeeding Börje Ekholm who steps down after nine years as President and CEO. David Hammarwall has been named Head of Business Area Networks and Senior Vice President. The leadership change comes as Ericsson's share price stands at SEK111.95, with the stock up 26.8% year to date and 46.7% over the past year. Analysts have set a price target of SEK98.25, and forecast earnings are expected to decline by an average of 2.6% per year over the next three years.
Telefonaktiebolaget LM Ericsson (publ)CEO succession announced; stock up YTD but analysts forecast earnings decline.