Nokia CEO Rajeev Suri to resign
By MYBRANDBOOK
Nokia’s CEO Rajeev Suri will step down from his post on August 31, 2020 and will serve as an advisor to the Nokia Board until January 2021. The announcement of Suri’s resignation to pave the way for Pekka Lundmark was made on Monday.
After serving for more than a decade as President and CEO of Nokia and Nokia Siemens Networks, Pekka Lundmark will wear former’s shoes in the global role, the company announced.
Suri indicated earlier to the Nokia's Board of Directors that he was considering stepping down from his role at some point in the future, provided a solid succession plan was in place. Rajeev Suri will resign from the post after spending 10 years at the top position.
“After 25 years at Nokia, I have wanted to do something different. Nokia will always be a 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”, said Suri
Pekka Lundmark as President and Chief Executive Officer of Nokia is expected to start in his new role on September 1, 2020. Lundmark currently serves as the President and CEO of Fortum, an energy company based in Espoo, Finland, where he renewed the company’s strategy, and positioned it to be a strong player in the transforming global energy sector.
Prior to Fortum, Lundmark served as President and CEO of Konecranes, a material-handling technology leader, and from 1990-2000 he held multiple executive positions at Nokia, including vice president of Strategy and Business Development at Nokia Networks.
“Pekka has a record of leadership and shareholder value creation at large business-to-business companies; deep experience in telecommunications networks, industrial digitization, and key markets such as the United States and China; and a focus on strategic clarity, operational excellence and strong financial performance,” said Risto Siilasmaa, Nokia Board Chair in a statement.
Nokia’s Board has conducted a structured process for CEO succession and has been working with Rajeev Suri to develop internal candidates and identify external candidates.
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