Rajeev Suri will leave Nokia after 25 years, including 10 as chief executive, with the Finnish network equipment manufacturer. (Martti Kainulainen – Lehtikuva)

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PEKKA LUNDMARK, the chief executive of Fortum, has been appointed as the next chief executive of Nokia.

Lundmark on Monday morning announced he will step down as the chief executive of the state-owned energy company in order to take the reins of the Finnish network equipment manufacturer as of 1 September 2020.

“I am honoured to have the opportunity to lead Nokia, an extraordinary company that has so much potential and so many talented people,” he said in a press release from Nokia.

He expressed his confidence that the company is well-positioned to compete in the era of fifth-generation mobile networks (5G) and meet its commitments to customers, employees, shareholders and other stakeholders.

“Strong values, leading innovation and unflinching commitment to our customers have always been core to Nokia,” highlighted Lundmark.

Risto Siilasmaa, the board chairperson at Nokia, indicated that Lundmark was the choice because of his track record of leadership and value creation in the business-to-business sector; focus on clarity, operational excellence and financial performance; and experience in telecommunications networks, industrial digitalisation and key markets such as China and the United States.

Nokia on Monday revealed that CEO Rajeev Suri had indicated earlier to its board of directors that he is considering stepping down from the helm of the network equipment maker, as long as a “solid succession plan” was in place.

“After 25 years at Nokia, I have wanted to do something different,” explained 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 accomplished over time.”

Suri will vacate his current position on 31 August 2020 but continue to serve in an advisory capacity until 1 January 2021.

Aleksi Teivainen – HT

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