Nokia appoints Fortum CEO Lundmark to replace Suri from September 1

This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEG210KI_L.jpg

OSLO (Reuters) – Nokia (HE:) Chief Executive Rajeev Suri will step down in September and is to be replaced by Pekka Lundmark, until now the CEO of energy group Fortum, the telecoms equipment maker said on Monday.

Suri steps down after more than a decade in charge of Nokia and Nokia Siemens Networks, the company said.

Nokia faces intense competition from Sweden’s Ericsson (BS:) and China’s Huawei in the race to deliver 5G telecoms networks to operators around the world.

Lundmark, head of Fortum since 2015, held multiple executive positions at Nokia between 1990 and 2000, including vice president of strategy and business development at Nokia Networks.

“With the acquisition of Alcatel-Lucent (PA:) behind us and the world of 5G in front of us, I am pleased that Pekka has agreed to join Nokia,” Nokia Chairman Risto Siilasmaa said in a statement.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment