The Chief Executive Officer of Nokia, Rajeev Suri will reportedly leave his position in the company in September 2020. Nokia announced this in a statement released on Monday.
According to Nokia, Suri would be replaced by the current head of Finnish energy group, Fortum, Pekka Lundmark who would take over on September 1 2020.
Suri was said to have earlier indicated his plans to leave the company provided a solid succession plan was in place. He had worked at Nokia for the past 25 years has been Nokia’s president and CEO since April 2014.
During his time at Nokia, Suri was able to transform the brand with its acquisition of Alcatel-Lucent and the creation of a standalone software business, as well as the return of the Nokia brand to mobile phones.
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He also oversaw the launch of ‘internet of things’ products designed to revolutionise specific sectors, such as soil sensors for agriculture or tracking systems for logistics firms.
Speaking on his departure, Suri said, “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.”
A brief look into Lundmark’s profile: Lundmark has previously worked as Chief Executive Officer of Konecranes, a global material-handling technology leader. He is not new to the Nokia brand as he had formerly held various executive positions at Nokia, including vice president of strategy and business development at Nokia Networks from 1990-2000.
What you should know: Nokia had remade itself as a 5G network systems company following the wiping out of its mobile phone business by competitors, Apple and Samsung. However, Nokia’s attempts to break into the 5G equipment market have faltered in the face of fierce competition from Huawei and Ericsson.
