Ericsson ousts Hans Vestberg as CEO
Swedish telecom Ericsson's Chief Executive Hans Vestberg has been ousted with immediate effect, the company said on Monday. CEO since 2010, Vestberg's departure comes amid stock slumps, intensified competition, and investigations into the wireless-networking gear maker's business in Europe and Asia. Chief Financial Officer Jan Frykhammar will be acting CEO, as Ericsson finds Vestberg's successor.