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April 21, 2014

Comings and Goings:Ericsson Announces Search For New Senior Vice President

Ericsson has been working hard to make itself a strong company over the last few years.  The firm has decided it is best to shake up the team running the company. Ericsson announced earlier this week that the executive leadership team has been changed up a bit, in hopes of jumpstarting revenue numbers that would be impressive for most companies and are a bit down compared to previous quarters.

Among the changes, Douglas Gilstrap has announced he will be stepping down from his post as Senior Vice President and Global Head of Strategy, effective August 1, 2014. The firm announced the process to find someone to replace Gilstrap will begin immediately as they firm wants someone in place and understanding their roles once August rolls around.

Gilstrap has been with Ericsson since 2009 and has been credited as being the man in charge of developing the company’s business strategy and driving the company’s M&A activities during his reign. Gilstrap has also been credited with dissolving the ST-Ericsson joint venture. He has also served as the Chairman of Business Unit Modems since 2013.

Hans Vestberg, the CEO and President of Ericsson recently talked about the imminent departure of Gilstrap in a statement saying: "Douglas has been instrumental in shaping Ericsson's strategy with his broad industry knowledge, business development and transactional skills during the five years that he has been with the company. He has played a leading role in all M&A and key commercial activities during these years, strengthening Ericsson's position across all business segments."

While the company is looking for a new head of Global Strategy it is still entering into a number of deals across the world—among them is a partnership with Telenor in Myanmar.

Edited by Maurice Nagle

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