There should almost be a financial edict in stock markets that the board cannot have a say in who is appointed to replace a failed CEO and Ericsson this week showed the wisdom in such a move by appointing one of their own – Börje Ekholm, a 20-year man with one of Ericsson’s investors, who immediately promised to cut cost and sell hard as a cure for Ericsson’s ills. While cutting costs is important, it cannot for the basis of a strategy at a company beset on all sides – its own customers have falling service revenues, and increased calls for capex; its rivals are both local, in Nokia, or have immense resource, favored as they are by overseas governments,…