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Ericsson Chairman Johansson To Depart Amid Activist Shareholder Pressure

Ericsson's (ERIC) chairman Leif Johansson said Wednesday that he's stepping down from the board after six years with the Swedish telecoms equipment maker amid increased pressure from activists shareholders.

The move comes just over a month after Europe's largest activists, Cevian Capital, built a 5.6% stake in Ericsson, saying it wants to play an active role in implementing the strategy of new CEO Borje Ekholm.

"Borje Ekholm assumed the position as CEO in the beginning of the year and during the first quarter the company presented a new, more focused, business strategy," Johansson said in the...