Two senior Ericsson veterans have left the vendor today as the troubled telco launched another reorganisation to turn its business around.
Jan Frykhammar and Magnus Mandersson were part of the company’s executive management team and most recently served as advisers to CEO Börje Ekholm.
Ericsson said both men had left to pursue other opportunities.
Frykhammar has been at the Sweden-based company since 1991 and served as CFO from 2009 until earlier this year.
He was also temporary CEO for six months in 2016 as the vendor searched for a leader.
Mandersson has been at Ericsson since 2004 in a number of roles, including Head of Global Services and Head of Northern Europe.
CEO Börje Ekholm said: “Jan and Magnus have been part of guiding Ericsson through the incredible transformation that the industry has gone through the past 15 years.
“Jan Frykhammar has been invaluable to the company during his 26 years at Ericsson, not least when stepping up as interim CEO in a time when leadership and momentum was of utmost importance.
“Magnus has been instrumental in building up the company’s services business, and in establishing and nurturing some of our most important customer relationships.”
As part of the shake up, Head of Networks Fredrik Jejdling has been made Executive Vice President.
The changes come amid a period of continued flux at Ericsson.
The company has made a loss of SEK16.2 billion in the first nine months this year on like-for-like sales that have fallen 11 percent to SEK145 billion.
Ekholm, who took charge in January, has targeted “significant improvements” in 2018.
This year has seen a host of job cuts – some 3,000 staff left the business in Q3 alone – while its media and IT cloud infrastructure hardware businesses are up for sale as the CEO searches for profitability.
At the same time, activist investment firm Cevian Capital has acquired a minority stake in the company and new chairman Ronnie Leten is set to arrive from Electrolux next year.