• Treschow steps down as chairman of Ericsson
• Volvo CEO Leif Johansson tosses in the towel
• Ericsson profit sours on strong broadband sales

Volvo's chief executive, Leif Johansson, who is set to step down in the middle of the year, is proposed as new Chairman of the Ericsson Board of Directors, the Stockholm-based telecom company said in a statement Thursday morning.

However, Handelsbanken analyst Martin Nilsson said Johansson's appointment would not have a significant impact on Ericsson.

"Ericsson's business is not driven by owners, it is essentially driven by the chief executive and the management. Therefore the choice of chairman is less important than in many other companies," Nilsson told Dow Jones Newswires.

Swedish banker and industrialist Jacob Wallenberg is proposed as new board member, the world’s largest maker of wireless networks also said.

Leif Johansson announced last December that he will resign after almost 14 years at the helm of the world’s number two for heavy goods vehicles. The same month Michael Treschow said that he would resign as Ericsson chairman after spending nearly a decade at the post.