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Volvo Chief Proposed As New Ericsson Chairman

Truck maker Volvo's outgoing CEO Leif Johansson has been nominated as the new chairman of one of Sweden's largest companies, wireless equipment maker L.M. Ericsson AB.

STOCKHOLM (AP) -- Truck maker Volvo's outgoing CEO Leif Johansson has been nominated as the new chairman of one of Sweden's largest companies, wireless equipment maker L.M. Ericsson AB.

Johansson, who announced his resignation from Volvo in December, would replace Michael Treschow who has chaired Ericsson's board since 2002.

The proposal was made by the company's nomination committee on Thursday and will need approval of Ericsson shareholders at its annual general meeting on April 13. The committee is appointed by the company's largest owners.

It was not immediately clear when the new chairman will assume his post since Johansson has previously said he's staying at Volvo until August.
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