Börje Ekholm appointed new CEO of Ericsson, steps down as CEO of Patricia Industries


As announced today, Ericsson’s Board of Directors has appointed Börje Ekholm as
new CEO, effective January 16, 2017. As a main owner of Ericsson, Investor fully
supports this appointment.

In order to further align the CEO’s interests with the shareholders, Investor
and Industrivärden will enter into an options agreement with Börje Ekholm. The
options agreement will be entered into on market terms and means that Investor
and Industrivärden together will issue 2,000,000 call options in the Ericsson
Class B share (1,000,000 respectively). Each option entitles the purchase of one
Ericsson B share at a strike price of SEK 80 per share during one year after a
seven-year period. The valuation has been conducted, using the Black & Scholes
model, by an independent third party.

As a consequence of this appointment, Börje Ekholm will leave his position as
CEO of Patricia Industries. Investor’s strategy remains unchanged. Patricia
Industries will continue to develop its existing companies and invest in new
subsidiaries in the Nordics and in North America. Its operations will be managed
jointly by Christian Cederholm and Noah Walley, Head of Patricia Industries
Nordics and North America respectively.   “First of all, as the Chairman of the
Board of Investor, I would like to thank Börje for his great contributions to
Investor during almost 25 years, of which ten as President and CEO, and also as
the CEO of Patricia Industries. He has played an instrumental role in making
Investor what it is today, not the least when it comes to successfully building
our portfolio of subsidiaries. Secondly, representing one of the company’s main
owners, I am very pleased to have a new CEO in place at Ericsson, an important
company in our portfolio”, comments Jacob Wallenberg, Chairman of the Board of
Investor.

“Having worked closely with Börje Ekholm for many years, I know that he will
make a strong contribution in his new role as CEO of Ericsson. During the past
year, he has established the foundation for Patricia Industries, which we will
continue to build upon going forward. In Christian Cederholm and Noah Walley, we
have two highly competent co-heads who will continue to develop Patricia
Industries. Our strategy remains firm. We will continue to focus on developing
our existing companies, invest selectively within Listed Core Investments,
commit capital to EQT funds and grow Patricia Industries, with the ultimate
target to generate a long-term attractive total shareholder return”, states
Johan Forssell, President and CEO of Investor.

“Having spent almost 25 years in different roles within Investor, I have truly
enjoyed working with creating long-term value in our companies. However, as an
engineer by training, turning down the offer getting to lead Ericsson, one of
Sweden’s greatest companies, is impossible. It is with great pride, humility and
enthusiasm that I look forward to taking on this new task”, comments Börje
Ekholm.

Patricia Industries, a part of Investor AB, makes control investments in best-in
-class companies with strong market positions, brands and corporate cultures
within industries positioned for secular growth. Our ambition is to be the sole
owner of our companies, together with strong management teams and boards. We
invest with an indefinite holding period, and focus on building durable value
and capturing organic and non-organic growth opportunities.

This information is information that Investor AB is obliged to make public
pursuant to the EU Market Abuse Regulation. The information was submitted for
publication, through the agency of the contact person set out above, at 08:40
CET on October 26, 2016.
For further information:

Stefan Stern, Head of Corporate Relations, Sustainability and Communications,
Phone 46 8 614 2058, 46 70 636 7417
Magnus Dalhammar, Head of Investor Relations, Phone 46 8 614 2130, 46 73 524
2130
Our press releases can be accessed at www.investorab.com
Investor, founded by the Wallenberg family a hundred years ago, is the leading
owner of high quality Nordic-based international companies. Through board
participation, our industrial experience, network and financial strength, we
strive to make our companies best-in-class. Our holdings include, among
others, Atlas Copco, SEB, ABB, Ericsson and Mölnlycke Health Care.

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