TWO NEW MEMBERS NOMINATED TO BOARD OF DIRECTORS
Mike Volpi, Partner at Index Ventures and a former Joost and Cisco executive,
nominated to the Board of Directors.
Hans Vestberg, CEO of Ericsson, nominated to the Board of Directors.
The Chairman and other members of the Board of Directors are proposed to be
re-elected.
Ericsson's (NASDAQ:ERIC) Annual General Meeting of Shareholders will take place
on April 13, 15.00 CET, in Stockholm. The nomination committee proposes Michael
Treschow be re-elected Chairman of the Board of Directors, Roxanne S. Austin,
Sir Peter L. Bonfield, Börje Ekholm, Ulf J. Johansson, Sverker Martin-Löf, Nancy
McKinstry, Anders Nyrén, Carl-Henric Svanberg, and Marcus Wallenberg be
re-elected and Hans Vestberg and Michelangelo (Mike) Volpi be elected new
members of the Board of Directors.
Mike Volpi is a partner at Index Ventures in London where he focuses on
investments in the internet, telecom/networking and media sectors. His career in
the technology sector began at HP where he worked in the optoelectronics
division. He then moved on to Cisco Systems in 1994, where he was Senior Vice
President and led Cisco's business for the service provider market, and was also
responsible for all of Cisco's routing and access products. He also served as
Cisco's Chief Strategy Officer. Volpi left Cisco in 2007 to serve as CEO at
Joost, a venture backed start up delivering premium video services over the
internet.
Mike Volpi was born in 1966. He holds a Bachelor of Science in Mechanical
Engineering and Masters in Manufacturing Systems Engineering from Stanford
University and an MBA from the Stanford Graduate School of Business.
Hans Vestberg was appointed President and CEO of Ericsson on January 1, 2010. He
was born 1965 and earned a Bachelor of Business Administration degree from the
University of Uppsala, Sweden, in 1991. Shortly after joining Ericsson in 1991,
Hans Vestberg was appointed to various international managerial positions in
China, Sweden, Chile, Brazil and the US. Prior to taking on the position as CEO
and President, he held the position as Chief Financial Officer.
The complete proposals of the nomination committee, including the committee's
explanation of its proposal regarding the Board of Directors taking into account
Ericsson's operations, phase of development and other relevant circumstances as
well as the qualifications, experience and background of the nominated
directors, are available on our website, www.ericsson.com, as of March 8, 2010.
The Board of Directors proposes a dividend of SEK 2.00 per share be paid for the
year 2009 and April 16, 2010 as record day for dividend.
The Board of Directors proposes the meeting resolves on guidelines for
remuneration to senior management for the period up to the 2011 Annual General
Meeting of Shareholders.
Compared to the guidelines resolved by the 2009 Annual General Meeting of
shareholders, these guidelines have been restructured and rephrased to better
demonstrate the basic principles for remuneration within the Ericsson Group.
The Board of Directors proposes the implementation of a Long Term Variable
Remuneration Program 2010 and transfer of own shares in accordance with the
program. For more details, see separate press release.
The Board of Directors proposes transfer of own stock in relation to the
resolutions on the Long Term Incentive Plan 2006 and the Long Term Variable
Remuneration Programs 2007, 2008 and 2009.
The complete proposals for resolution at the Annual General Meeting of
Shareholders are available at our web site www.ericsson.com as of March 8, 2010.
Upon request, the proposals will be sent to the shareholder. The Notice to the
Annual General Meeting of Shareholders is found below.
Mike Volpi Hans Vestberg
Notes to editors:
For more photos of Mike Volpi, search on google.com
Bio and photo of Hans Vestberg
Appointment of Ericsson's Nomination Committee
Ericsson is the world's leading provider of technology and services to telecom
operators. Ericsson is the leader in 2G, 3G and 4G mobile technologies, and
provides support for networks with over 2 billion subscribers and has the
leading position in managed services. The company's portfolio comprises mobile
and fixed network infrastructure, telecom services, software, broadband and
multimedia solutions for operators, enterprises and the media industry. The Sony
Ericsson and ST-Ericsson joint ventures provide consumers with feature-rich
personal mobile devices.
Ericsson is advancing its vision of being the “prime driver in an
all-communicating world” through innovation, technology, and sustainable
business solutions. Working in 175 countries, more than 80,000 employees
generated revenue of SEK 206.5 billion (USD 27.1 billion) in 2009. Founded in
1876 with the headquarters in Stockholm, Sweden, Ericsson is listed on OMX
NASDAQ, Stockholm and NASDAQ New York
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FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Public & Media Relations
Phone: +46 10 719 69 92
E-mail:
media.relations@ericsson.com
Ericsson Investor Relations
Phone: +46 10 719 00 00
E-mail:
investor.relations@ericsson.com
Ericsson discloses the information provided herein pursuant to the Securities
Markets Act and/or the Financial Instruments Trading Act. The information was
submitted for publication on March 8, 2010 at 08.15 CET.
