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Ericsson CEO pulls no punches as he maps a long hard road to recovery

There are many question marks over Ericsson’s new CEO Börje Ekholm and how effectively he will address the firm’s biggest crisis for 15 years. But one way in which he differs from many predecessors and peers is in his directness. Investors and customers are not given any false hopes, and that was clear from the new, uncompromising tone of the company’s annual Capital Markets Day – ironically held in the same week as the annual summit for Facebook-led Telecom Infra Project (TIP), which seeks to undermine the foundations on which Ericsson’s business has rested for so many years. The gloom was profound. Ekholm downgraded an operating margin target, set only seven months ago, and admitted the Cisco alliance would miss its…

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