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Sony Ericsson Names New President

Mon, 08/17/2009 - 5:57am
The Associated Press

STOCKHOLM (AP) — Wireless equipment maker LM Ericsson AB said on Monday that Bert Nordberg will replace retiring Dick Komiyama as the president of its mobile phone joint venture Sony Ericsson.

Nordberg, who has worked as executive vice president of Ericsson, will move to Sony Ericsson on Sept. 1 and assume the role of president on Oct. 15, the company said.

(Click here to read Lie, Cheat & Steal: Attention Mr. Nordberg)

"Bert Nordberg has a strong track-record in the area of business realignment and was instrumental in the transformation of Ericsson in the years 2002-2003," said Ericsson President Carl-Henric Svanberg.

"I am confident he will be able to build upon the foundation Dick has created and lead the final stages of Sony Ericsson's transformation."

Sony President Sir Howard Stringer will become the new chairman of the board of Sony Ericsson as of Oct. 15, the company said. He will replace Svanberg, who will remain a member of the Sony Ericsson board while assuming his new post as president of BP Plc.

Last month, the Japanese-Swedish joint venture announced a fourth consecutive quarterly net loss of €213 million ($299 million) as demand waned for mobile phones. The company's weak position has triggered speculation in the media that it may need a cash injection, possibly altering the ownership structure.

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On the Net: http://www.sonyericsson.com

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