Less Ads, More Data, More Tools Register for FREE

Pin to quick picksVodafone Share News (VOD)

Share Price Information for Vodafone (VOD)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 68.96
Bid: 69.08
Ask: 69.12
Change: 0.26 (0.38%)
Spread: 0.04 (0.058%)
Open: 68.76
High: 70.10
Low: 68.60
Prev. Close: 68.70
VOD Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Ericsson could look beyond telecoms sector for new CEO-source

Wed, 19th Oct 2016 12:56

By Olof Swahnberg

STOCKHOLM, Oct 19 (Reuters) - Struggling mobile networksgiant Ericsson could try to hire a chief executivewith no track record in the telecoms industry after lookingbeyond the obvious candidates, a source familiar with the mattersaid.

Swedish business daily Dagens Industri suggested thatdefence firm Saab's chief Hakan Buskhe could be inthe running for the job in a column titled "Will Saab's bosssave Ericsson?".

The source would not confirm that Buskhe, who has been inthe top job at Saab since 2010, was being considered but did saythat the search had extended beyond those frequently named inmedia speculation, most of whom have telecoms experience.

"I understand there is a person on the short list but thatit is not so easy to get the person concerned," said the source,who declined to be named or give any further details.

Ericsson, Saab and Buskhe all declined to comment.

Ericsson has been without a permanent CEO since ousting HansVestberg in July. The sense of crisis around the companydeepened last week when the world's biggest maker of mobilenetwork equipment reported a 94 percent plunge in quarterlyoperating profit and tumbling sales.

The names often cited as contenders in recent weeks includecompany insider Hakan Eriksson, an executive based in Australia,former Ericsson CFO and current Stora Enso boss Karl-HenrikSundstrom as well as Johan Wibergh, the CTO of Vodafone whospent nearly two decades at Ericsson.

Asked whether experience at Ericsson was a requirement forthe board in choosing a new leader, the source said: "In my viewit should be a person with great industrial experience andknowledge, whether within telecoms or another sector is not soimportant."

CREDENTIALS

Buskhe, 52, has a track record in high-tech businesses andclose ties with Marcus Wallenberg, vice chairman of Investor which is a major shareholder in both Saab andEricsson.

Buskhe has been credited with turning Saab around bybroadening its international exposure at a time when EuropeanUnion defence budgets were falling and securing groundbreakingdeals for its fighter jets in emerging markets like Brazil.

Investor said on Wednesday that the priority for Ericssonwas to find the right CEO.

"I know the board is working very hard with the question,"Investor CEO Johan Forssell told Reuters, adding that EricssonChairman Leif Johansson has already laid out his criteria forthe role.

"It requires a strong leader, a person who understandstechnology and a person with good strategic abilities."

Swedish media have reported that some candidates have turneddown approaches due to the terms or worries over the future of acompany which is slashing thousands of jobs and faces fiercecompetition from Huawei and Nokia.

One Swedish fund manager who owns Ericsson shares said hewas surprised to see Buskhe's name mentioned but that he had therelevant research and engineering profile.

"It may not be possible to get a Ronaldo or a Messi toEricsson right now, so we may have to settle for someone furtherdown the list," said the fund manager, who asked to remainanonymous.

"From the main owner's perspective, Buskhe is a good name --they have worked with him for many years." ($1 = 8.8100 Swedish crowns) (Writing by Mia Shanley, additional reporting by Johan Sennero,Helena Soderpalm and Eric Auchard; editing by Keith Weir)

More News
11 Oct 2023 10:30

TOP NEWS: CMA probes UK business merger of Vodafone and Hutchison

(Alliance News) - The Competition & Markets Authority on Wednesday said it is considering whether the planned merger the UK businesses of Vodafone Group PLC and CK Hutchison Group Telecom Holdings Ltd would weaken competition.

Read more
11 Oct 2023 09:17

LONDON BROKER RATINGS: JPMorgan raises Croda; Berenberg cuts Atalaya

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

Read more
9 Oct 2023 16:56

LONDON MARKET CLOSE: Stocks suffer amid Israel conflict

(Alliance News) - Oil majors and defence contractor BAE Systems helped shield the FTSE 100 from a deeper decline on Monday, as global equities struggled as events in Israel meant it was a risk-off start to the new week.

Read more
5 Oct 2023 09:08

LONDON BROKER RATINGS: Panmure likes abrdn; Kepler cuts Britvic

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

Read more
5 Oct 2023 07:41

LONDON BRIEFING: Unite CEO steps down; Imperial Brands begins buyback

(Alliance News) - The FTSE 100 is expected to open in the green on Thursday, with equity markets feeling more cheerful after softer US jobs data eased fears over interest rates.

Read more
27 Sep 2023 13:10

EARNINGS: Safestyle suffers amid "difficult" trading conditions

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Read more
22 Sep 2023 14:16

Zegona confirms it is in talks to buy Vodafone's Spanish operations

(Alliance News) - Zegona Communications PLC on Friday said it was in discussions with Vodafone Group PLC to acquire its Spanish operations, confirming prior media reports.

Read more
6 Sep 2023 09:00

Saudi Arabia's STC Group to become Telefonica top shareholder with 9.9% stake

LONDON/DUBAI, Sept 5 (Reuters) - Saudi Arabia's STC Group has amassed a 9.9% stake in Telefonica worth 2.1 billion euros ($2.25 billion), in a move to become the Spanish telecom giant's top shareholder.

Read more
5 Sep 2023 08:00

Vodafone teams up with Amazon's Project Kuiper to extend 5G reach

LONDON, Sept 5 (Reuters) - Vodafone plans to work with Amazon's low Earth orbit satellite constellation Project Kuiper to extend the reach of its 4G and 5G telecoms networks in Europe and Africa.

Read more
31 Aug 2023 21:37

Vodafone and Samsung begin mass rollout of open RAN in UK

(Alliance News) - Samsung Electronics Co on Thursday said that it and Vodafone Group PLC are replacing technology in the UK with virtualised open radio access networks, alias RAN, on Vodafone's 2,500 sites.

Read more
23 Aug 2023 17:43

Zelenskiy vows to end Russian occupation of Crimea, defends strategy

Zelenskiy hosts conference in Kyiv on Crimea

*

Read more
16 Aug 2023 13:24

Safaricom launches M-Pesa mobile money service in Ethiopia

ADDIS ABABA, Aug 16 (Reuters) - Safaricom's M-Pesa mobile money service went live in Ethiopia on Wednesday, in a boost to the Kenyan telecoms operator as it seeks to kickstart growth in one of Africa's biggest economies.

Read more
16 Aug 2023 09:29

LONDON BROKER RATINGS: RBC cuts Antofagasta; Shore likes Trainline

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
15 Aug 2023 17:00

South Africa's MTN looks to unlock hidden value with stake sales

JOHANNESBURG, Aug 15 (Reuters) - The CEO of South Africa's MTN Group said on Tuesday he plans to bring in minority partners in fintech and fibre and then list the businesses as separate entities to reach a market capitalisation of more three times its net asset value (NAV).

Read more
7 Aug 2023 09:14

LONDON BROKER RATINGS: JPMorgan lifts Rolls-Royce; RBC cuts Unite

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.