Ericsson chief moves to BP

OIL giant BP today announced that it has appointed the chief executive of mobile giant Ericsson as its new chairman.

Carl-Henric Svanberg is to replace Peter Sutherland as chairman. He will join the company in September as non-executive director and will become chairman on January 1 of next year. It comes after a seven-year stint at Swedish giant Ericsson.

Mr Svanberg, 57, said: "BP is a recognised world leader in the energy sector and it's a great privilege to be invited to lead its board."

The worldwide search for a new chairman was led by Sir Ian Prosser, with a team including Sir William Castell, DeAnne Julius and Peter Sutherland.

BP chief executive Tony Hatward said: "Peter Sutherland will be a hard act to follow."