Lauren Miller

May 10, 2024 - 07:59 am

Ericsson Announces Leadership Transition as Senior VP Heads for New Horizons

STOCKHOLM, May 10, 2024 /PRNewswire/ -- In a significant corporate update, technology titan Ericsson (NASDAQ: ERIC) heralded the departure of Fadi Pharaon, Senior Vice President and market area steward of the Middle East & Africa region. Pharaon has opted to explore new professional avenues after committing over a quarter of a century to the corporation. Ericsson disclosed that Pharaon, who has embodied a diverse array of management roles since 2019, will effectively leave his post at the conclusion of August. The announcement of his successor is anticipated to occur in a timely fashion.

Ericsson's trailblazing leader Börje Ekholm lauded Pharaon's immeasurable contributions to the conglomerate, emphasizing his vast industry wisdom, unwavering customer-centric ethos, shrewd business insights, and exceptional leadership prowess. "Fadi has contributed immensely to Ericsson with his deep knowledge of our industry, customer focus, business acumen and leadership skills," stated President and CEO Ekholm. In his farewell, Ekholm wished Pharaon the utmost success for the new chapter he is set to embark upon.

The esteemed Pharaon, reflecting on his expansive tenure, expressed immense pride in being a pivotal element of Ericsson's Executive Team, and helming the Market Area Middle East & Africa with the company's talent-rich pool of colleagues. "It has been a true honor to be part of Ericsson's Executive Team and to head Market Area Middle East & Africa alongside all the talented colleagues at Ericsson," said Pharaon with a tone of reverence for the roles he held. His unabating zeal for Ericsson and gratitude for the myriad prospects offered to him by the company were abundantly clear. Moreover, Pharaon signified his intent to keep abreast of Ericsson's ongoing successes and strategic implementation to reinforce its stronghold within mobile networks, fortify its enterprise expansion, and continue the transformative cultural metamorphosis.

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Ericsson at a Glance

Ericsson stands out as an empowering force for communication service providers and business enterprises, enhancing their capacity to extract untapped value from connectivity. The extensive portfolio of Ericsson spans Networks, Cloud Software and Services, Enterprise Wireless Solutions, and a Global Communications Platform. This amalgamation of services and solutions is finely tuned to assist their clients in embracing digitalization, augmenting efficiency, and uncovering new streams of revenue.

The entity's zeal for innovation has been a catalyst in bestowing the luxuries of mobility and mobile broadband upon billions of individuals worldwide. Proudly traded on Nasdaq Stockholm and Nasdaq New York, investors and stakeholders can glean insights into Ericsson's market performance and vision for the future. More information on the company's trajectory and its suite of offerings can be found on www.ericsson.com.

This press release has been disseminated by Cision, a renowned news delivery service that can be accessed at http://news.cision.com. For those interested in the detailed announcement regarding the change in Ericsson's Executive Team, please visit the specific release at https://news.cision.com/ericsson/r/ericsson-announces-change-to-the-executive-team,c3976216.

In line with making information readily available and transparent for stakeholders, several resources, including press-related documents and official statements, are available for download. To access the document detailing Ericsson's announcement regarding the update in the Executive Team, follow this link: https://mb.cision.com/Main/15448/3976216/2787925.pdf.