Rajeev Suri: Nokia President and CEO Rajeev Suri to step down

Nokia’s President and CEO Rajeev Suri will step down from his present place on August 31, 2020. Suri, nevertheless, will proceed to function an advisor to the Nokia Board till January 1, 2021, the corporate stated in a press release.

Pekka Lundmark will succeed Suri, and is anticipated to start out on September 1, 2020. Lundmark is at the moment President and CEO of Fortum, a number one power firm based mostly in Espoo, Finland.

“I am honored to have the opportunity to lead Nokia, an extraordinary company that has so much potential and so many talented people,” stated Lundmark. “Together we will create shareholder worth by delivering on Nokia’s mission to create the expertise to attach the world. I’m assured that the corporate is well-positioned for the 5G period and it’s my aim to make sure that we meet our commitments to our prospects, workers, shareholders and different stakeholders.

After greater than a decade on the helm, Suri had indicated earlier to the Board that he was contemplating stepping down from his function sooner or later sooner or later, offered a strong succession plan was in place.

Nokia’s Board of Directors has carried out a structured course of for CEO succession and has been working carefully with Suri to develop inside candidates and determine exterior candidates. On March 2nd, Nokia’s Board of Directors made the choice to maneuver ahead with Lundmark’s appointment.

“After 25 years at Nokia, I have wanted to do something different,” stated Suri. “Nokia will always be part of me, and I want to thank everyone that I have worked with over the years for helping make Nokia a better place and me a better leader. I leave the company with a belief that a return to better performance is on the horizon and with pride for what we have accomplished over time. Pekka is an excellent choice for Nokia. I look forward to working with him on a smooth transition and wish him the best success in his new role.”

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