Börje Ekholm

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Person.png Börje Ekholm   LinkedIn PowerbaseRdf-entity.pngRdf-icon.png
(businessman, Wallenberg Sphere)
Börje1901.jpg
Born1963
NationalitySwedish, US
Alma materKTH Royal Institute of Technology, INSEAD
Member ofEuropean Round Table of Industrialists
Succeeded fellow Bilderberger Marcus Wallenberg as CEO of Investor AB. Then CEo of Ericsson.

Employment.png Ericsson/CEO Wikipedia-icon.png

In office
2017 - Present

Erik Börje Ekholm is a Swedish-American business leader and from 2017 CEO of the telecom company Ericsson. Before that he was CEO of Investor AB, the holding company of the Wallenberg family who owns 40% of the Swedish economy.

Early Life

Ekholm grew up in Edsbruk and studied at Västerviks gymnasium. He has a master's degree in engineering from KTH in Stockholm and an MBA from INSEAD. Investor

Börje Ekholm has been employed by the Wallenberg family's Investor AB since 1992. In 2000, he became Deputy CEO with responsibility for the New Investments business area. From 1997 to 2005, he was Head of Investor Growth Capital, IGC. From September 2005 to May 2015 he was CEO of [Investor AB]], a mighty position.[1][2][3] At the 2015 Annual General Meeting, Ekholm was succeeded by Johan Forssell as President and CEO. He then took over responsibility for Patricia Industries, which includes Investor's unlisted holdings, based in New York.

Bonuses and dubious deals

Since his time as head of IGC, Ekholm has participated in a so-called parallel investment program linked to IGC. The return for IGC has been of such a nature that in January 2011 it was determined that Ekholm's bonus would amount to approximately SEK 110 million. The size led to criticism in the press after it emerged that the set goals had not been achieved. Ekholm then referred to common industry practice.[4][5]

In November 2009, Ekholm, as CEO of Investor, took the initiative to sell the pharmaceutical company Swedish Orphan, a company in which Investor via IGC has been a major player since 2004. The buyer was another pharmaceutical company, Biovitrum. Investor was also larger in this company and Ekholm owned private shares in the acquired company. Ekholm's capital gain amounted to SEK 21.7 million and this was called a bonus from the above-mentioned investment program when it was paid out in December 2010. The transaction was completed without the board and shareholders of the acquiring company, Biovitrum, being informed that Ekholm owned shares in the acquired company.[6]

In July 2010, Ekholm initiated a similar deal when Investor bought the healthcare company Aleris from the fund EQT III, in which, in addition to Ekholm, Jacob Wallenberg is also a private partner. Investor's shareholders were informed only afterwards about this matter.[7]

Ericsson

Ekholm took over as a board member of Ericsson in 2006. [8]

On January 16, 2017, he took over as President and CEO of Ericsson.[9]

Other engagements

He sits on the boards of Alibaba, Nasdaq, Inc., Trimble (company), and the Royal Institute of Technology.


 

Events Participated in

EventStartEndLocation(s)Description
Bilderberg/20136 June 20139 June 2013Watford
UK
The 2013 Bilderberg group meeting.
WEF/Annual Meeting/202021 January 202024 January 2020World Economic Forum
Switzerland
This mega-summit of the world's ruling class and their political and media appendages happens every year, but 2020 was special, as the continuous corporate media coverage of COVID-19 started more or less from one day to the next on 20/21. January, coinciding with the start of the meeting.


References