focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

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: 75.24
Bid: 75.18
Ask: 75.22
Change: -1.92 (-2.49%)
Spread: 0.04 (0.053%)
Open: 76.72
High: 76.94
Low: 74.92
Prev. Close: 77.16
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
14 Feb 2024 15:17

PRESS: Brussels open to telecoms mergers to support investment - FT

(Alliance News) - Brussels has signalled it is open to European telecoms mergers to help fund the rollout of 5G and update ageing networks, a report said Wednesday.

Read more
14 Feb 2024 10:56

Vodafone gets approval to add e& CEO Hatem Dowidar to board

(Alliance News) - Vodafone Group PLC on Wednesday said Hatem Dowidar, the chief executive of a United Arab Emirates-backed telecom group, will join its board from next week Monday.

Read more
7 Feb 2024 08:51

LONDON BROKER RATINGS: Jefferies cuts BioPharma Credit to 'hold'

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

Read more
5 Feb 2024 16:22

London close: Stocks turn lower on renewed interest rate concerns

(Sharecast News) - London's financial markets had turned negative by the close of trading on Monday, after better-than-expected UK services data was offset by a downward revision in service activity in the United States.

Read more
5 Feb 2024 12:06

LONDON MARKET MIDDAY: FTSE 100 rises as UK service sector impresses

(Alliance News) - Stock prices in London were higher midday Monday, after data showed that the UK services sector kicked off the new year with its most robust performance since May.

Read more
5 Feb 2024 08:47

LONDON MARKET OPEN: London's stocks up on Wall Street rally

(Alliance News) - Stock prices in London opened higher on Monday, following New York's Friday rally thanks to a strong US jobs report.

Read more
5 Feb 2024 08:22

Vodafone Group maintains 2024 guidance after third quarter growth

(Alliance News) - Vodafone Group on Monday said that its third quarter had shown sustained revenue growth in Europe and Africa, as the company reiterated its guidance for the full year.

Read more
5 Feb 2024 07:42

LONDON BRIEFING: Stocks expected to start week up slightly amid PMIs

(Alliance News) - Stocks in London are set to open slightly higher on Monday, ahead of a slew of purchasing managers' index readings.

Read more
5 Feb 2024 07:03

Vodafone struggles in Italy, Germany, but holds guidance

(Sharecast News) - Telecoms giant Vodafone held full-year guidance as it reported a fall in third-quarter service revenues, driven largely by declines in Germany.

Read more
31 Jan 2024 15:49

London close: Stocks mixed ahead of US Fed, BoE decisions

(Sharecast News) - London's financial markets finished with mixed performance on Wednesday, with investors closing their wallets ahead of rate announcements from both the US Federal Reserve and the Bank of England.

Read more
31 Jan 2024 11:18

TOP NEWS: Vodafone rejects revised Iliad proposal for Italian merger

(Alliance News) - British telecommunications company Vodafone Group PLC turned down a revised merger proposal from French telecommunications company Iliad for the Italian subsidiaries Iliad Italia and Vodafone Italia, Iliad SA announced on Wednesday.

Read more
31 Jan 2024 09:21

LONDON BROKER RATINGS: Jefferies raises Spirax-Sarco; cuts Victrex

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

Read more
31 Jan 2024 08:06

Vodafone rejects revised Iliad offer to merge Italian businesses

(Sharecast News) - Iliad said on Wednesday that Vodafone had rejected its revised offer to merge the two companies' Italian businesses.

Read more
29 Jan 2024 16:00

UK earnings, trading statements calendar - next 7 days

Tuesday 30 January 
Diaceutics PLCTrading Statement
Diageo PLCHalf Year Results
Kromek Group PLCHalf Year Results
Luceco PLCTrading Statement
Oxford Cannabinoid Technologies Holdings PLCHalf Year Results
Pets at Home Group PLCTrading Statement
Renewi PLCTrading Statement
Saga PLCTrading Statement
SSP Group PLCTrading Statement
SThree PLCFull Year Results
Synthomer PLCTrading Statement
Wednesday 31 January 
Aberforth Smaller Companies Trust PLCFull Year Results
abrdn Private Equity Opportunities Trust PLCFull Year Results
Ecora Resources PLCTrading Statement
GSK PLCFull Year Results
ITM Power PLCHalf Year Results
NWF Group PLCHalf Year Results
Thursday 1 February 
Airtel Africa PLCTrading Statement
AG Barr PLCTrading Statement
BT Group PLCTrading Statement
Cranswick PLCTrading Statement
Gem Diamonds LtdTrading Statement
Glencore PLCTrading Statement
JTC PLCTrading Statement
Rank Group PLCHalf Year Results
Shell PLCFull Year Results
TClarke PLCTrading Statement
Friday 2 February 
YouGov PLCTrading Statement
Monday 5 February 
Home REIT PLCTrading Statement
Porvair PLCFull Year Results
Trident Royalties PLCTrading Statement
Vodafone Group PLCTrading Statement
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
28 Jan 2024 19:32

Sunday newspaper round-up: NatWest, China, Vodafone

(Sharecast News) - The Chancellor is laying the groundwork for the sale of billons of pounds worth of shares in NatWest as soon as June. A contract to a market research company has been awarded to study the public's views, alongside a tender to public relations firms and advertising companies who would work on the marketing campaign. Nevertheless, sources inside the Treasury have played down recent speculation in the City that Jeremy Hunt might announce the decision in his 6 March budget. The sale was expected to be priced at a discount. - The Sunday Times

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.