L.M. Ericsson Telephone Co. confirmed Monday it has formed a special board committee to oversee the restructuring of the company. The measure is the latest of several the telecommunications equipment maker has taken recently in the face of poor financial results.
“The committee’s main task is to look at the efficiency program we presented in March,” said Ase Lindskog, director media relations at Ericsson.
Lindskog said the committee has been formed to “meet the recession Ericsson is facing right now.” The committee’s board members include Eckhard Pfeiffer, Sverker-Martin L