InterDigital Inc (IDCC)

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(COMTEX) B: Sweden's Ericsson appoints new management team

STOCKHOLM, Sweden, Mar 17, 2003 (AP WorldStream via COMTEX) -- Wireless
equipment maker LM Ericsson said Monday it had appointed a new deputy chief
executive, along with other key figures on its management team.

The Stockhlm-based company said last month that CEO Kurt Hellstroem would retire
in April and be replaced by Carl-Henric Svanberg, the CEO of international lock
maker Assa Abloy.

Per-Arne Sandstroem was named deputy CEO while Karl-Henrik Sundstroem was named
chief financial officer and executive vice president.

They, along with Svanberg will take over as the company's new executive
management team April 8 at the company's annual meeting.

"The new ... team gives us continued strong focus on our restructuring work as
well as high customer focus," Svanberg said.

Sundstroem, most recently vice president and general manager of its global
services unit, is replacing Sten Fornell, who will leave the company at the end
of the year.

Sandstroem has spent 15 years at Ericsson, including stints as president of its
North American market area and head of the former Business Unit GSM systems.

He also helped guide the company's massive restructuring since 2001 as chief
operating officer, and task he will continue to do now.

Ericsson, along with other telecom-equipment makers have been hard hit as
operators and providers cut back spending on their current networks and pushed
back plans for new, faster networks in a bid to preserve cash.

The company has been cutting costs and trimming its work force. When it started
in 2001, the company employed 107,000 worldwide. By the end of 2002, Ericsson
employed more than 64,600.

Separately, the company said it settled a patent dispute with InterDigital
Communications Corp., a move that helped it avoid a trial this spring.

Under the agreement, Ericsson will pay InterDigital US$58 million for its use of
technology developed by the American company in mobile phones and equipment that
it has sold for cell phone networks.

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On the Net:

http://www.ericsson.com

Copyright 2003 Associated Press, All rights reserved

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