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CORRECTED-Ericsson says Johan Forssell new chairman of nomination committee
July 14, 2017 / 11:25 AM / 2 months ago

CORRECTED-Ericsson says Johan Forssell new chairman of nomination committee

(Corrects first paragraph to say that Forssell has become new chairman of board’s nomination committee, not that Gardell would join the committee, as Gardell joined the committee on June 1)

STOCKHOLM, July 14 (Reuters) - Sweden’s Ericsson said on Friday that Johan Forssell of Investor has replaced Petra Hedengran as the new chairman of the board’s nomination committee.

Last month activist investor Cevian’s Christer Gardell joined the committee.

Cevian has increased its stake in recent months to become the largest owner by capital in Ericsson, though long-time shareholders Investor AB and Industrivarden still control far more votes.

Chairman Leif Johansson plans to quit before the company’s annual meeting in 2018 as the struggling mobile equipment firm tries to restore profitability. (Reporting by Johan Ahlander; Editing by Niklas Pollard)

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