Ericsson chief is BP’s new chairman

U.K.-based BP P.L.C. has appointed Carl-Henric Svanberg as the group’s new chairman effective January 2010, succeeding current Chairman Peter Sutherland. He will join the oil group’s board in September 2009. Svanberg is currently the chief executive of Stockholm, Sweden-based telecommunications company Ericsson. He will step down from his position at Ericsson at the end of the year. However, he will serve as a non-executive director for the company, concurrent with his new position at BP. (June 25, 2009)