Ericsson American Depositary Shares - ERIC STOCK NEWS

Ericsson held its Annual General Meeting (AGM) on March 29, 2023, in Stockholm, where key resolutions were made. The Profit and Loss Statements and Balance Sheets for 2022 were adopted, and a proposed dividend of SEK 2.70 per share was approved, to be paid in two installments. New board members were elected, including Jan Carlson as Chair. The AGM also approved two Long-Term Variable Compensation Programs, allocating a maximum of 4.1 million B-shares for executives and 5.9 million B-shares for other employees. Financial oversight will continue with Deloitte AB as auditor until the next AGM.

Ericsson launched the first of several events through its African American Alliance employee resource group (EAAA ERG) to commemorate Black History Month.

In collaboration with Dr. Michael Horne, CEO of Parkland Health Foundation, the discussion focused on mental health stigma, the effects of racial discrimination, and the significant need for better health access in underserved communities.

Participants shared their insights on the experience of being Black in America, emphasizing community strength and the importance of vocal advocacy.

Ericsson announced a breakthrough in energy efficiency for radio access networks (RAN) utilizing AI technology. The company highlights the pressure on cellular operators to reduce energy costs, which currently account for 5-7% of operating expenses. With 5G expansion, optimized energy use is critical. By implementing a machine learning-based recommendation engine, operators can potentially achieve up to 12% annual energy savings without compromising network performance. This dynamic system adapts to real-time traffic patterns and optimizes configurations, reflecting significant operational improvements.

On March 15, 2023, Ericsson (NASDAQ:ERIC) submitted its Annual Report on Form 20-F for the fiscal year ending December 31, 2022 to the U.S. Securities and Exchange Commission (SEC). This report provides detailed insights into the company's financial performance, operations, and strategy. Shareholders can access the report online at Ericsson's investor website or request a hard copy directly from the company. The report outlines key metrics and developments that may influence future performance and shareholder value.

Ericsson recently published its Diversity & Inclusion News Round Up on March 15, 2023, focusing on essential topics such as algorithmic gender bias, pay transparency, and right to disconnect laws. With pay transparency laws gaining traction globally, studies indicate they may help reduce inequities but also introduce risks. Additionally, Kenya has proposed legislation to grant employees the right to disconnect after work hours, following similar laws in Europe. A discussion on the effects of algorithmic bias highlights challenges in AI tools that may inadvertently censor women's images. Notably, the film “Daughter” was launched to raise awareness about climate change's impact on women.

Ericsson explores the future of consumer behavior in a recent report, stating that 72% of early tech adopters believe shopping apps promoting digital alternatives will replace physical needs by the 2030s. This shift could enhance environmental sustainability by reducing resource consumption.

The company's ConsumerLab report highlights the changing consumer attitudes toward digital experiences, emphasizing the necessity for innovation due to climate change concerns.

Ericsson released its latest edition of the Diversity & Inclusion News Roundup on March 10, 2023, highlighting key aspects of workplace culture. The report emphasizes the importance of a speak-up culture, particularly among younger generations, while addressing challenges they face in voicing concerns. The impact of remote work on employee engagement is explored with recent research suggesting evolving connections among employees. Additionally, it covers disability inclusion initiatives led by Ryan Gersava, promoting vocational training for people with disabilities, and a critical video from Doctors Without Borders on racial representation.