U.S. Markets closed
  • S&P 500

    3,693.23
    -64.76 (-1.72%)
     
  • Dow 30

    29,590.41
    -486.27 (-1.62%)
     
  • Nasdaq

    10,867.93
    -198.88 (-1.80%)
     
  • Russell 2000

    1,679.59
    -42.72 (-2.48%)
     
  • Crude Oil

    79.43
    -4.06 (-4.86%)
     
  • Gold

    1,651.70
    -29.40 (-1.75%)
     
  • Silver

    18.78
    -0.76 (-3.90%)
     
  • EUR/USD

    0.9693
    -0.0145 (-1.4733%)
     
  • 10-Yr Bond

    3.6970
    -0.0110 (-0.30%)
     
  • Vix

    29.92
    +2.57 (+9.40%)
     
  • GBP/USD

    1.0857
    -0.0398 (-3.5360%)
     
  • USD/JPY

    143.3300
    +0.9950 (+0.6991%)
     
  • BTC-USD

    19,089.03
    +240.27 (+1.27%)
     
  • CMC Crypto 200

    434.61
    -9.92 (-2.23%)
     
  • FTSE 100

    7,018.60
    -140.92 (-1.97%)
     
  • Nikkei 225

    27,153.83
    -159.30 (-0.58%)
     

Ericsson to restructure operations, two execs to depart

·1 min read

STOCKHOLM, May 18 (Reuters) - Ericsson on Wednesday laid out plans to restructure its operating units to focus on mobile infrastructure and business customers, and announced that two senior executives will leave the company.

A new business unit was created by merging digital services and managed services to increase its cloud expertise and build products for automation and artificial intelligence.

The unit will be led by Per Narvinger, who joined Ericsson in 1997.

A new unit for enterprise wireless business, to be led by Cradlepoint CEO George Mulhern, will develop 5G-related products to meet the needs of big businesses.

Ericsson executives, Arun Bansal, currently executive vice president, and Peter Laurin, head of business area managed services, will leave the company.

The new organisation will take effect June 1. (Reporting by Supantha Mukherjee, European Technology & Telecoms Correspondent, based in Stockholm)