• Börje Ekholm is stepping down as Ericsson’s CEO in September
• The Ericsson board decided not to go outside its four walls for a successor 
• The vendor’s current head of networks, Per Narvinger, will replace Ekholm in the top job starting in late September
• Ekholm’s nine-year stint as Ericsson chief has seen an improvement in profitability but also some major challenges and an expensive acquisition

After nine challenging years at the helm, Börje Ekholm is to leave his role as president and CEO of Ericsson in September, with current EVP and head of business area networks Per Narvinger set to replace him, Ericsson has announced.

The very personable Ekholm has led the Swedish vendor since the start of 2017 and, after handing over to Narvinger, will stay on as an executive advisor at the company until June 2027.

Ekholm, who succeeded Hans Vestberg as the Swedish vendor’s CEO, said he joined Ericsson during a period of “considerable headwinds” as it went through a major restructuring programme that saw it focus on its traditional telecom offering. 

The company also faced numerous challenges, including historical allegations of corruption such as those related to bribery in Iraq (incidents that pre-dated Ekholm’s tenure).

He also presided over the $6.2bn acquisition of cloud communications firm Vonage in 2022 with the deal adding several new strings to Ericsson’s bow at a time when the company was desperate for diversification that fitted in with the company’s strategy. However, it soon became clear that Ericsson had overpaid, as the company soon reported two separate write-downs related to the acquisition that reduced the ‘book’ value of the Vonage business by two-thirds.

From a business perspective, Ekholm is best known for his corporate streamlining and operational prudency. While annual revenue levels have remained relatively flat during his tenure, Ekholm presided over significant headcount reductions (around 17,000 roles since 2022) that reduced the vendor’s operating cost base. He almost doubled Ericsson’s margins from 29% in 2017 to 48% in 2025, when the company reported a net income of SEK 28.7bn ($3bn). At the same time, the CEO can take credit for driving 5G innovations and landing some major, market-changing radio access network deals with the likes of AT&T and Verizon.

“We have turned Ericsson around and emerged as a global communications and technology leader,” said Ekholm, adding that “with Per Narvinger as CEO, Ericsson will have the right leader to continue developing this great company.”

Narvinger is very much an Ericsson insider, having joined the company in 1997 and having held several leadership roles, including long-term assignments in Australia and Spain. His most recent role has seen him lead Ericsson’s Business Area Networks since 2025.

“It is a great honour to step into this role in a company where I have spent my entire professional career. It has been a pleasure working with Börje in our joint efforts to create a stronger Ericsson,” said Narvinger.

“This is a pivotal time in our industry. As AI continues to industrialise, this will increasingly require advanced connectivity solutions, an area where Ericsson is leading. With our extraordinary employees who are cementing technology leadership as a foundation for success, we will continue to provide great value to our customers,” he noted.

Ekholm will also step down from Ericsson’s board of directors on 1 October. Jan Carlson, chair of the board of directors, thanked him for his service. “Börje’s tenure as CEO of Ericsson is defined by extraordinary leadership and strategic advancements. During his almost 10 years as CEO, we’ve seen Ericsson solidifying its position as the leading provider of trusted communications networks. Today, Ericsson’s global market position is stronger than ever thanks to his strategic vision and global leadership.”

Welcoming Narvinger, he added: “He has deep technical knowledge of our industry, as well as extensive commercial experience, and has proved himself in several key leadership positions. The board is very pleased to welcome Per into this role at a very important time for the company.

- James Pearce, Contributing Editor, TelecomTV