Gilstrap joined the wireless network equipment maker in 2009. In his time with the company Gilstrap helped dissolve the ST-Ericsson joint venture and integrate the modem business.
"Douglas has been instrumental in shaping Ericsson's strategy with his broad industry knowledge, business development and transactional skills during the five years that he has been with the company," CEO Hans Vestverg said in a statement. "He has played a leading role in all M&A and key commercial activities during these years, strengthening Ericsson's position across all business segments."
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TheStreet Ratings team rates ERICSSON as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ERICSSON (ERIC) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."