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Ericsson (ERIC) Stock Gains on CEO Vestberg Departure

NEW YORK (TheStreet) -- Shares of Ericsson (ERIC) are climbing 2.17% to $7.52 in pre-market trade this morning after the company announced that CEO Hans Vestberg is resigning from his position effective immediately.

Executive VP and CFO Jan Frykhammar will take Vestberg's place until a replacement can be found, according to a company statement.

"In the current environment and as the company accelerates its strategic execution, the board of directors has decided that the time is right for a new leader to drive the next phase in Ericsson's development," said Chairman of...


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