Sony Ericsson replaces its CEO



image Monday, Sony Ericsson, one of the top five cellphone producers, announced Chief Executive Dick Komiyama would retire at the end of the year. Bert Nordberg is to step in for him since October 15.

As it was reported, Sony CEO Howard Stringer would become new board chairman the same day, replacing Ericsson head Carl-Henric Svanberg, who is to become chairman of BP Plc in January.

Svanberg said that he has a firm belief Bert Nordberg will be able to build upon the foundation Dick has created and lead the final stages of Sony Ericsson’s transformation.

Large losses at Sony Ericsson have sparked market speculation of a possible breakup of the 50-50 venture, however the companies said they are committed to the operation and could inject more money into it if necessary. In July Sony Ericsson reported a pretax loss of 283 million euros ($400 million), forecasting the rest of the year to be difficult, with the overall market to drop at least 10%.

ECJ




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