Ericsson has announced that its chief financial officer (CFO), Carl Mellander, will step down at the end of the first quarter of 2024. Mellander has been with Ericsson for over 25 years and has been a member of its executive team since 2016. A recruitment process will be initiated by the company to appoint a successor.

Commenting on the development, Börje Ekholm, president and chief executive officer, said, “For almost seven years Carl has been a valued member of the executive team and instrumental in the turnaround of Ericsson. We have come to a mutual agreement that this is a good time for a change, as the turnaround phase is completed and the foundation for the next chapter of Ericsson’s strategy has been laid. During his tenure as CFO, Ericsson regained its technology leadership and significantly strengthened its financial position. With his dedicated leadership and broad background in Ericsson and other companies, Carl has successfully built Ericsson’s finance function and has been an integral part in closing key strategic acquisitions as well as enhancing our compliance program. I wish him all the best in his future ventures. I am happy he will stay on in the role until the end of Q1 2024, which allows for finding and ensuring a smooth handover to a successor.”

Meanwhile, Carl Mellander said, “It has been an incredible privilege to serve as Ericsson’s CFO during these soon seven years and to work with such an extraordinary group of people. I am deeply proud of the work we have done in transforming the company; Ericsson is well positioned globally to continue building on its industry-leading position and to expand into enterprise. If there was ever a good time for me to move on to new career adventures, I feel that this moment is it, and I am excited about what the future might bring. Meanwhile, I will continue in full capacity as CFO during this period. I will always follow Ericsson with passion and pride as it keeps transforming society.”