The troubled technology giant has been under sustained pressure amid falling sales and heavy competition in its core telecoms market.
Subject to shareholder approval, the 60 year-old Belgian will take over later this year. He is currently a board member of SKF, the Chairman of the Board of Electrolux and proposed Chairman of the Board of Epiroc, currently part of Atlas Copco.
The Chairman of the Nomination Committee, Johan Forssell said: “Ronnie Leten has a very strong track record when it comes to value creation. Mr Leten is a very skilled businessman, technically savvy and strategically versatile. Furthermore, he has significant experience from digitalization of major operations, which will be beneficial for Ericsson’s focused work together with its customers.
Ericsson’s current chairman, Leif Johansson, has already said he wouldn’t be making himself available for re-election.