Douglas L. Gilstrap has been appointed Senior Vice President and Head of Group Function Strategy at Ericsson (NASDAQ: ERIC), effective as of October 1, 2009. Gilstrap brings to Ericsson more than 15 years experience in the global telecommunications and IT industry.
"Together with its customers, Ericsson is the main driving force in an industry that is shaping almost every aspect of our lives." says Gilstrap. "As a professional with many years in the industry, it is great to join the leading company in a moment where telecommunications and broadband have proven a key means of economic development."
"Doug has vast experience in telecommunications and especially in business development," says Hans Vestberg, CFO and newly appointed CEO of Ericsson. "That will be key in continuing the strategy that has turned Ericsson into the industry leader."
Gilstrap began his career at the telecommunications and IT industry in 1991, when he joined SITA (Societé Internationale de Telecommunications Aeronautiques), a Paris based data network cooperative serving the airline industry. He was appointed CFO, then COO to Equant Network Services, a spin-off of SITA which was funded by Morgan Stanley private equity. As member of Equant's founding management team, he was instrumental in taking the company public and helped turn it into one of the world's leading data/IP networking companies.
In 2000, Douglas was named CEO of Radianz where he led a team responsible for creating, building, and managing the largest financial extranet, providing a global IP network and hosting to the financial community. The company has been named Best Financial Network by a leading industry magazine for multiple years.
Later Gilstrap was strategic advisor for Cable & Wireless for three years, where he worked on turnaround issues which included UK development and acquisition activities.
He received a BS in accounting from the University of Richmond and an MBA from Emory University in Atlanta and has also attended the select executive program at Insead, France.
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Ericsson is the world's leading provider of technology and services to telecom operators. Ericsson is the leader in 2G, 3G and 4G mobile technologies, and provides support for networks with over 1 billion subscribers and has a leading position in managed services. The company's portfolio comprises of mobile and fixed network infrastructure, telecom services, software, broadband and multimedia solutions for operators, enterprises and the media industry. The Sony Ericsson and ST-Ericsson joint ventures provide consumers with feature-rich personal mobile devices.
Ericsson is advancing its vision of "to be the prime driver in an all-communicating world" through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 75,000 employees generated revenue of SEK 209 billion (USD 32.2 billion) in 2008. Founded in 1876 with the headquarters in Stockholm, Sweden, Ericsson is listed on OMX NASDAQ, Stockholm and NASDAQ New York.
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