Volvo chief in line for top Ericsson role

Lief Johansson, who plans to leave Volvo this year, is tipped for the job

Volvo chief executive Lief Johannson is being tipped to take over the vacant chairman role at network equipment maker Ericsson.

According to The Financial Times, Johannson is favourite to take over from Michael Treschow, who announced last month that he planned to step down after nine years in the position.

Johannson has run Volvo for 14 years, and is due to step down in August. A source close to Johannson confirmed his interest, saying:

"He's made it clear that he will stay active in business. He's not the kind of guy who would enjoy a quiet retirement."

Ericsson has over 1,000 networks in more than 175 countries, and 40 per cent of all mobile calls are made through its systems.