The 50-year-old was the only candidate on the ballot paper following the withdrawal prior to the meeting of Bjorn Eriksson, making Vestberg's election a formality.
"I love sport, my whole life is surrounded by sport," Vestberg said following his election. "I thought I was going to be an Olympian, but now I stand here as chairman."
Vestberg started his career at telecom equipment maker Ericsson in 1988 and he was appointed CEO in 2010. His sporting background is primarily in handball and he is chairman of the Swedish Handball Association.
(Reporting by Philip O'Connor; Editing by Toby Davis)
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