Ericsson Appoints New CEO, Seeks To Improve Profitability; Stock Remains Undervalued.
Today Ericsson announced the appointment of Börje Ekholm as its new CEO, who will start on Jan. 16. We like that Mr. Ekholm has been on Ericsson’s Board of Directors for about 10 years so he is intimately familiar with challenges the company is facing at the moment. However, we do have a couple of concerns. Overall, our thesis for Ericsson and fair value estimate of $9 remains unchanged as we wait for the new CEO to announce new strategic imperatives for the company. With shares trading in 5-sta...
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