Richard Pennycook, Co-Operative Group. Ericsson, Ernst & Young, Red Bee Media, WH Smith, Ivan Menezes, Diageo, SSE, Alistair Phillips-Davies,

Ericsson has announced its is buying Red Bee Media, the UK-based media gr0up owned by Macquarie. Red Bee has 1,240 employees and operations in the UK, France, Germany, Spain and Australia.

Otherwise there are a raft of big job changes today. Steve Clarke is taking over as chief executive of WH Smith from Kate Swann today.

Ivan Menezes is the new boss of Diageo, taking over from Paul Walsh who is staying on the board until September.

Alistair Phillips-Davies is starting as chief executive of the energy group SSE.

Ben Magara becomes the new chief executive of Lonmin allowing acting-boss Simon Scott to resume his role as finance director. 

Mark Weinberger is taking over from Jim Turley as global chairman and chief executive of Ernst & Young.

Warren East is retiring as chief executive of ARM Holdings and is succeeded by Simon Segars.

And Richard Pennycook is arriving as finance director of the Co-Operative Group.