Ericsson American Depositary Shares - ERIC STOCK NEWS

Ericsson has appointed Jenny Lindqvist as Senior Vice President and Head of Market Area Europe & Latin America, effective February 1, 2023. She will be part of the Executive Team, reporting directly to the CEO, Börje Ekholm. Lindqvist aims to leverage her extensive experience in driving growth and innovation, particularly in the 5G sector. She succeeds Stefan Koetz, who has been in the role since June 1, 2022, and will now lead Strategic Projects for the same market area. Lindqvist previously held various leadership roles within Ericsson, contributing significantly to the business's success.

Ericsson has appointed Jenny Lindqvist as Senior Vice President and Head of Market Area Europe & Latin America, effective February 1, 2023. Lindqvist will join the Ericsson Executive Team, reporting to the CEO, Börje Ekholm. She previously served as Vice President and Head of Northern and Central Europe. Ekholm expressed confidence in Lindqvist's leadership during a critical time for Ericsson, focusing on enhancing the company’s position in 5G technology. Lindqvist, who holds a Master's in Business & Economics, replaces Stefan Koetz, who will lead Strategic Projects for the same market area.

Ericsson released its latest Diversity & Inclusion News Roundup, highlighting key articles and videos from 2022. Key themes include the importance of inclusivity in technology, with campaigns like Apple's accessibility initiative and efforts by organizations encouraging inclusive hiring for workers without degrees. Insights into anti-racism and allyship are shared, along with statistics revealing significant disparities in sponsorship between white and Black employees. The roundup also emphasizes well-being in the workplace, noting shifting priorities towards flexibility and meaningful work over traditional career advancement.

Ericsson's fourth quarter results for 2022 showed a 1% year-over-year organic sales growth, driven primarily by significant gains in IPR revenues, which contributed 5 percentage points. Reported sales were SEK 86.0 billion, up from SEK 71.3 billion a year ago. Despite gross income increasing to SEK 35.6 billion, the gross margin decreased to 41.4% due to a shift in business mix. EBITA was SEK 9.3 billion, significantly down from SEK 12.8 billion last year, largely impacted by charges of SEK -4 billion. The company aims for long-term EBITA margins of 15-18% by 2024, while facing macroeconomic headwinds.

Ericsson reflects on 2022 by highlighting its top ten blog posts that showcase advancements in technology, particularly in 5G, AI, and sustainability. Key topics include the transformation of sports through technology, the ongoing development of AI and 5G, and Ericsson's commitment to achieving Net Zero emissions by 2040. The blog also discusses the impact of digitalization on economic growth and social inclusion, as well as the future of the metaverse and the anticipated evolution towards 6G. These insights set the stage for Ericsson’s ambitions in 2023 and beyond.

Ericsson publishes a Diversity & Inclusion News Round-Up, highlighting critical workplace trends and societal issues. Recent statistics reveal that more men aged 30-44 are leaving the workforce, potentially due to challenges such as childcare and educational gaps. Research sheds light on the stigma surrounding menopause, indicating that openly discussing this phase may mitigate biases. The Taliban has enforced restrictive measures against women in Afghanistan, recently banning university attendance, which has sparked global condemnation. This round-up emphasizes the importance of inclusion and awareness in contemporary work environments.

Ericsson (NASDAQ: ERIC) announced a provision of SEK 2.3 billion (approximately USD 220 million) for potential resolution with the U.S. Department of Justice (DOJ) regarding alleged breaches of its 2019 Deferred Prosecution Agreement (DPA). This charge will be reflected in the fourth quarter 2022 financial results as Other Operating Expenses. The company is cooperating with ongoing investigations related to a prior internal investigation. No new criminal misconduct has been alleged by the DOJ since the DPA began.

Ericsson explores the phenomenon of quiet quitting among Generation X in the tech industry. The concept refers to employees doing only the minimum required during work hours without going the extra mile. The article discusses the challenges in measuring employee performance in tech jobs, the impact of work-life balance, and the potential effects of AI on job roles. It raises critical questions about engagement and purpose at work, suggesting that quiet quitting can be a self-protection mechanism. The author emphasizes the importance of adapting to new technologies rather than disengaging.