Troubled handset maker Sony Ericsson has announced that President and Chief Executive Dick Komiyama is being replaced by Bert Nordberg, the head of Ericsson's broadband and Internet protocol unit, reports MarketWatch.
Komiyama is reported to be retiring after two years in the top job, but there is speculation that the decision to leave was not his. Last month the joint venture announced its fourth consecutive quarterly loss.
The change takes effect Oct. 15, the same day Sony President Sir Howard Stringer will become chairman of the board of Sony Ericsson, according to an Associated Press story in Forbes.
Nordberg told Reuters he plans to continue the restructuring that Komiyama initiated.