Borje Ekholm

Börje Ekholm
Ekholm in 2019
Börje Ekholm
Born	Template:Birth year and age
Birthplace	Borås, Sweden
Nationality	Swedish, American
Occupation	Business executive
Title	President and CEO, Ericsson
Children	4

Börje Ekholm (born 1963) is a Swedish-American business executive who has served as the President and Chief Executive Officer of Ericsson, the multinational telecommunications equipment company, since January 2017. Before leading Ericsson, Ekholm spent more than a decade as CEO of Investor AB, the flagship investment holding company of Sweden's Wallenberg family, one of the most powerful business dynasties in Scandinavia. Born in the industrial town of Borås in western Sweden, Ekholm rose through a career that took him from small-town Sweden to senior corporate leadership on the global stage, eventually settling in the United States and acquiring American citizenship. His tenure at Ericsson has been defined by a sweeping restructuring of the company, including significant cost-cutting measures, a strategic refocusing on core network infrastructure, and efforts to position the firm competitively in the global 5G market amid intensifying rivalry with Huawei and Nokia.

Early Life

Börje Ekholm was born in 1963 in Borås, a city in Västra Götaland County, Sweden, historically known for its textile industry. He grew up in modest circumstances in the region, and his early academic abilities drew attention from teachers. A former teacher later recalled him as one of the best students they had ever taught.

Ekholm's journey from a small Swedish industrial town to the upper echelons of global business has been characterized by Swedish media as an embodiment of the "American dream," given his eventual relocation to the United States and acquisition of American citizenship. Swedish newspaper Dagens Nyheter profiled him as someone who had moved "from the mill town to the upper class," highlighting the distance between his origins in Borås and his later position within the orbit of the Wallenberg business empire.

His early life and upbringing in western Sweden provided him with a foundation that would later contrast with the cosmopolitan, transatlantic career he built across finance, technology, and telecommunications. Swedish business publication Fokus explored the motivations behind his career, identifying financial ambition as a significant driving force from an early stage.

Education

Ekholm pursued higher education in both Sweden and the United States. He studied at the KTH Royal Institute of Technology in Stockholm, where he earned a master's degree in electrical engineering. He subsequently attended INSEAD, the international business school, where he obtained a Master of Business Administration (MBA). His dual technical and business education positioned him for a career that spanned engineering-intensive industries and financial management. The combination of an engineering background with a business degree from one of Europe's leading business schools was a distinguishing feature of his professional profile and would prove relevant to his later roles leading both an investment company and a technology corporation.

Career

Early Career and Investor AB

After completing his education, Ekholm joined Investor AB, the publicly traded holding company controlled by the Wallenberg family through the Wallenberg Foundations. Investor AB holds significant stakes in some of Scandinavia's largest companies, including Ericsson, Atlas Copco, ABB, and AstraZeneca. Ekholm rose through the ranks of the organization over many years, eventually being appointed as the company's Chief Executive Officer.

His appointment as CEO of Investor AB placed him at the center of the Wallenberg sphere of influence, one of the most significant concentrations of corporate power in Northern Europe. In this role, Ekholm oversaw the Wallenberg family's investment portfolio and was responsible for managing and developing the value of the group's holdings across multiple sectors. The Times of London noted that in selecting Ekholm, the Wallenbergs had gone outside the family for the Investor chief, reflecting confidence in his capabilities.

During his time at Investor AB, Ekholm also held board positions in several portfolio companies. He served as chairman of WM-data, a Swedish IT services company, as reported by Dagens Industri in 2005. He was also involved with Patricia Industries, a division within Investor AB focused on wholly owned subsidiaries.

The Financial Times profiled Ekholm during his tenure at Investor AB, noting his role within the broader Wallenberg business structure and his management of the group's strategic direction. French business newspaper Les Échos described him as a key figure of the Wallenberg family's business apparatus, noting his central importance in the dynasty's corporate strategy.

Ekholm served as CEO of Investor AB for over a decade, during which he lived primarily in the United States. His extended residence in the U.S. was notable for a Swedish corporate leader of his stature, and he eventually obtained American citizenship, making him a dual Swedish-American national.

Appointment as CEO of Ericsson

On October 26, 2016, Ericsson announced that Ekholm had been appointed as the company's new President and CEO, effective January 16, 2017. He succeeded Hans Vestberg, who had departed the position earlier that year amid declining financial performance and strategic challenges at the company.

The appointment was seen as a significant move by the Wallenberg family, which through Investor AB held a major stake in Ericsson and exerted considerable influence over the company's governance. Bloomberg noted that for the Wallenbergs, turnarounds of major companies were "measured in decades," and that the appointment of Ekholm signaled a long-term commitment to restructuring the telecommunications giant.

Fortune magazine reported that Ekholm's appointment was closely watched because Ericsson was in the midst of a significant downturn, facing pressure from the slowdown in global telecom spending, increased competition from Huawei, and the need to find new revenue streams beyond traditional mobile network equipment.

Swedish media reported that Ekholm made the decision to accept the CEO role at his kitchen table, underscoring the personal nature of the choice to take on one of Sweden's most high-profile and demanding corporate leadership positions.

Restructuring and Strategy at Ericsson

Upon taking office in January 2017, Ekholm moved quickly to reshape Ericsson's strategy. He announced that the company would take large provisions as part of a strategic reset, signaling to investors and the market that significant changes were forthcoming. The restructuring involved reducing costs, divesting non-core businesses, and refocusing the company on its core strengths in mobile network infrastructure, including radio access networks and core network technology.

Swedish business magazine Affärsvärlden described Ekholm as stepping "out of the shadow and into the heat," reflecting the transition from the relatively lower-profile role at Investor AB to the intense scrutiny that came with leading one of Sweden's largest and most internationally significant companies during a period of crisis.

In a January 2018 interview with CNBC at the World Economic Forum in Davos, Ekholm discussed Ericsson's restructuring progress and the company's strategic direction under his leadership, addressing the challenges and opportunities in the global telecommunications market.

A central element of Ekholm's strategy was positioning Ericsson to benefit from the global rollout of 5G networks. The company invested heavily in 5G research and development and secured major contracts with telecom operators worldwide. One of the most significant of these was a deal with AT&T valued at approximately $14 billion, which represented a landmark contract for the company and demonstrated its competitive position in the North American market.

The geopolitical context of the telecommunications equipment market played a significant role in Ekholm's strategy. As Western governments increasingly restricted Huawei's participation in 5G network buildouts due to national security concerns, Ericsson positioned itself as a primary beneficiary in markets where Chinese vendors were excluded. Light Reading reported that Ericsson under Ekholm's leadership specifically targeted "Huawei-free places" and explored opportunities in defense and government communications, including NATO-related contracts.

Cost-Cutting and Workforce Reductions

A persistent feature of Ekholm's tenure at Ericsson has been significant workforce reductions as part of the company's cost-cutting efforts. The company undertook multiple rounds of layoffs under his leadership, affecting operations in Sweden and worldwide. In January 2026, Ekholm stated publicly that Ericsson expected to continue shedding jobs, with plans to cut approximately 1,600 positions in Sweden that year alone.

Mint reported that the continued layoffs were driven by ongoing challenges in the 5G market, including slower-than-expected network investment by telecom operators globally. The cost reductions were credited with improving profitability even as overall revenue faced pressure. By the third quarter of 2025, Ericsson reported increased profits despite declining revenue, a pattern attributed in part to the cost-cutting program initiated under Ekholm.

Views on AI, Regulation, and European Technology Policy

Ekholm has been an outspoken commentator on technology policy, particularly regarding artificial intelligence (AI) and European regulatory approaches to technology. In a May 2025 interview with Warp News, he criticized what he viewed as excessive AI regulation in Europe, arguing that the continent's growing emphasis on legal compliance risked undermining technological competitiveness. He stated, "If your fastest growing employee category in Europe is lawyers, then I have some serious concerns. I still don't know a lawyer who has" contributed to technological innovation in the way engineers do. Ekholm described himself as a "tech optimist," asserting that technological advancement "has always turned out to be the right thing so far."

Fierce Network reported that Ericsson under Ekholm's leadership was exploring AI as a potential growth area, with the company positioning itself to leverage AI capabilities within telecommunications networks. The publication posed the question of whether AI could represent "the light at the end of Ericsson's tunnel" amid broader market challenges.

In January 2026, Ekholm made headlines by cautioning against the European push for "tech sovereignty" — efforts by the European Union and member states to reduce dependence on American technology. He described the push as "dangerous," arguing that it would harm European competitiveness. His remarks came against the backdrop of political tensions between the United States and Europe, including those related to U.S. policy toward Greenland under President Donald Trump.

Profile and Leadership Style

The South China Morning Post published a profile of Ekholm in 2019 in which the CEO discussed his desire to "put the record straight" regarding Ericsson's position in the global telecommunications market, particularly in relation to competition with Chinese rival Huawei. The profile explored Ekholm's approach to leading the company through a period of geopolitical complexity in the telecom sector.

The Financial Times profiled Ekholm at the time of his appointment, examining his background and the challenges awaiting him at Ericsson.

Personal Life

Ekholm has four children. He lived in the United States for an extended period during his career, particularly during his years leading Investor AB, and obtained American citizenship in addition to his Swedish nationality. His dual citizenship and extended residence abroad made him a somewhat unusual figure in Swedish corporate leadership, where most executives of major companies have traditionally been based in Sweden.

Swedish media have noted the contrast between Ekholm's origins in the industrial town of Borås and his later position within the elite circles of Swedish and international finance and business. Dagens Nyheter characterized his life trajectory as an embodiment of the American dream achieved by a Swede from a working-class background.

Recognition

Ekholm's career has attracted significant coverage from international business media. His appointment as CEO of Ericsson was covered extensively by outlets including Fortune, Bloomberg, Financial Times, Les Échos, and The Times, reflecting the global significance of the Ericsson leadership position within the telecommunications industry.

His role as CEO of Investor AB, prior to joining Ericsson, had already placed him among the most prominent business leaders in Scandinavia, given Investor AB's position as one of the largest investment companies in Northern Europe and the Wallenberg family's historical significance in Swedish industry.

Ekholm's public statements on European technology policy, AI regulation, and telecommunications geopolitics have placed him among the more visible CEO voices in the global debate over the future of the technology industry, particularly regarding the balance between regulation and innovation in Europe.