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Benzinga
Benzinga
Business
Anusuya Lahiri

Ericsson Chalks Out Restructuring Plans

ERIC (Organization) Ericsson DOJ Artificial Intelligence Russia
  • Ericsson (NASDAQ:ERIC) disclosed plans to restructure its operating units to focus on mobile infrastructure and business customers, effective June 1.
  • EVP Arun Bansal and Peter Laurin, head of the business area managed services, will leave the company.
  • Also Read: Ericsson Shares Drop Post Q1 Results; Acknowledges DOJ Penalty, Russia Business Suspension
  • Ericsson created a new business unit by merging digital services and managed services to increase its cloud expertise and build automation and artificial intelligence products. Ericsson veteran Per Narvinger will lead the division.
  • A new unit for enterprise wireless business will develop 5G-related products to meet the needs of big companies. Cradlepoint CEO George Mulhern will helm the division.
  • Price Action: ERIC shares traded lower by 1.49% at $7.93 in the premarket session on the last check Wednesday.
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