Ericsson (NASDAQ: ERIC) Executive Team and Board of Directors reaffirm commitment to deliver Ericsson strategy and continue compliance transformation journey.

At Ericsson’s 2022 Annual General Meeting, it was recorded that shareholders representing at least one tenth of all of the shares in the Company voted against discharge from liability of the Board of Directors and the President for the financial year 2021 while also electing Board members in accordance with the Nomination Committee’s proposals, which including re-election of all prior Board members.

Speaking after the general meeting, Ericsson’s Chief Executive Officer, Börje Ekholm said: “I understand the concerns raised by our shareholders and these are important matters. I want to state my commitment to continuing to lead Ericsson in the transformation of our company and its culture, executing on global 5G technology leadership, and strengthening our ethics and compliance performance to ensure lasting change.”

Ronnie Leten, Chair of Ericsson’s Board of Directors added: “Börje and the Executive Team have the full support of the Board. We have made good progress but there is much still to do. Conducting business responsibly and with integrity is essential to driving real and positive change. During five years at the helm, Börje has led the focus on ethics and compliance and executed the performance turnaround of Ericsson. He has made the company a leader in 5G globally and established a course for growing in wireless enterprise.”

“Ericsson’s Board is committed in its support for the continued transformation journey both in the business, and ethics and compliance performance.”