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Ronnie Leten, the former boss of mining gear maker, Atlas Copco, has been picked by Ericsson as its new Chairman, according to a press release on 9 October. Leten will, pending shareholder approval, take over from Leif Johansson, who announced during the summer that he would step down.
Ronnie Leten is also leaving his position as chairman at Electrolux, the home appliance maker said in a separate statement on Monday. Under Leten’s leadership, Atlas Copco shares rose 326%, twice as much as the European industrial sector index, with investors applauding its nimble cost structure and strong aftermarket sales that drove high margins and a robust cash flow.
Ronnie Leten is also due to become Chairman of mining business Epiroc.