Ericsson names Per Narvinger CEO, Borje Ekholm to retire
Business
Ericsson just picked Per Narvinger as its next CEO, starting October 1.
He's stepping in for Borje Ekholm, who's retiring after nine years at the helm but will stay on as an adviser until June 2027.
Narvinger has been with Ericsson since 1997 and knows the company inside out, having led both the networks division and cloud software teams.
Nokia stock +130%, Ericsson stock +24%
Narvinger takes charge while Ericsson faces slow demand for telecom gear and rising chip costs, thanks to the AI boom.
Meanwhile, rival Nokia's stock soared 130% this year by focusing on data center connectivity, a hot spot for AI investment, while Ericsson's grew just 24%.