Ericsson (Buy, TP: SEK144.00) - CEO likely to stay on
In our view, Ericsson made a solid case for discharging the board from liability at yesterday’s shareholder meeting, but we still see a substantial probability that more than 10% of share capital will vote against it. Our main scenario is, however, that Börje Ekholm will remain as CEO, even if he is not re-elected to the board. Mr Ekholm has been a turnaround CEO with a solid track record in our opinion, and appears committed to focusing all his energy on completing his mission to make Ericsson a strong and sustainable company.Ericsson provides communications technology and services. Co.'s services, software and infrastructure – especially in mobility, broadband and the cloud – enable the telecom industry and other sectors to do business, increase efficiency, improve the user experience and capture new opportunities. Co. has more than 110,000 professionals and customers in more than 180 countries. Co. provides support for networks with more than 2.5 billion subscribers. Co.'s core business areas are called Radio, Core and Transmission and Telecom Services. Co. divides its operations into three business segments: Networks, Global Services and Support Solutions.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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