Ericsson (ERIC) disclosed Tuesday a consolidation of its global operating structure, targeting efficiencies.
The three regions of Europe and Latin America, North America, and the Middle East and Africa have been consolidated. The Americas is one market segment. Europe, the Middle East, and Africa represent the only other.
Alongside the rejig, the company said Fredrik Jejdling, its "long-serving" head of Networks, will step down on March 15. He will remain as an executive advisor until June 30.
Per Narvinger, the head of business area cloud software and services will replace Jejdling as of March 15. Jenny Lindqvist, head of Europe and Latin America, will take over from Narvinger.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.