London, Oct 26 (IANS): Swedish communication technology firm Ericsson has appointed Börje Ekholm as its President and CEO effective from January 16, 2017.

Ekholm will remain member of the board of directors at Ericsson.

"Ekholm has a solid understanding of both the technology and business implications of the ongoing convergence of telecoms, IT and media. Having served on Ericsson's Board of Directors for the past 10 years, Ekholm has full understanding of the challenges and the opportunities Ericsson currently faces," said Leif Johansson, Chairman of the board. 

Ekholm is member of the board of directors for Telefonaktiebolaget LM Ericsson, Alibaba Inc., NASDAQ OMX Group Inc. and Trimble Navigation Ltd. 

"As the networks and applications become even more important in a 5G-connected world, our customers, and the industry, look for continuous innovation. I look forward to work closely with existing and new customers around the world in shaping the future of our industry," Ekholm said.