Ericsson Names Lars Sandström as CFO to Drive Financial Leadership and Innovation

Ericsson Names Lars Sandström as CFO to Drive Financial Leadership and Innovation

(IN BRIEF) Ericsson has appointed Lars Sandström as its Chief Financial Officer (CFO), Senior Vice President, and Head of Group Function Finance, effective from April 1, 2024. Sandström, currently the CFO of Getinge, a global leader in Medtech, brings a wealth of financial and management experience from his roles at companies such as AB Volvo, Scania, and Swedish Orphan Biovitrum AB. His appointment is aimed at supporting Ericsson’s strategic goals in mobile networks, enterprise expansion, and cultural transformation, following the departure of Carl Mellander in April 2023, who had been with the company for over 25 years.

(PRESS RELEASE) STOCKHOLM, 24-Jan-2024 — /EuropaWire/ — Ericsson (NASDAQ: ERIC) announces the appointment of Lars Sandström as its new Chief Financial Officer, Senior Vice President, and Head of Group Function Finance. Mr. Sandström will replace Carl Mellander, whose departure Ericsson announced in April 2023. Mr. Sandström will join Ericsson on April 1, 2024, and will be based in Sweden.

Lars Sandström is currently Chief Financial Officer and member of the executive team at Getinge – a listed global leader within Medtech. Mr. Sandström has been with Getinge since 2017 and holds a Master of Science in Business Administration. Mr. Sandström has previously held several senior positions at AB Volvo, Scania and Swedish Orphan Biovitrum AB.

Börje Ekholm, President and CEO of Ericsson, said: “I warmly welcome Lars Sandström to Ericsson. Lars’ impressive track record, extensive experience and knowledge in a variety of financial and management roles will be immensely important as we execute on our strategy to extend our leadership in mobile networks, expand into the enterprise segment and drive our culture transformation.”

Commenting on the appointment, Mr. Sandström says: “I’m very excited to join Ericsson and to help drive the creation of game-changing technologies and services that shape our future. Connectivity not only redefines businesses and improve lives, but it is also pioneering a sustainable future for all of us.”

In April 2023 Ericsson announced that Carl Mellander would step down after having been with Ericsson for over 25 years and a member of the Company’s Executive Team since 2016. Mr. Mellander will leave Ericsson at the end of the first quarter 2024.
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ABOUT ERICSSON:
Ericsson enables communications service providers and enterprises to capture the full value of connectivity. The company’s portfolio spans the following business areas: Networks, Cloud Software and Services, Enterprise Wireless Solutions, Global Communications Platform, and Technologies and New Businesses. It is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson’s innovation investments have delivered the benefits of mobility and mobile broadband to billions of people globally. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

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