Nokia appoints Pekka Lundmark as its new President and CEO

Under Suri's leadership, Nokia became one of the top two players in telecommunications infrastructure, rising from a number four position, with the scope and scale for long-term success.

Nokia said Monday that the company's Board of Directors has appointed Pekka Lundmark as the new President and Chief Executive Officer of Nokia. He is likely to start in his new role on September 1, 2020.

Lundmark's appointment comes after Rajeev Suri stepped down from his role as the President and CEO of Nokia and Nokia Siemens Networks after more than a decade. Suri will leave his current position on August 31, 2020, and continue to serve as an advisor to the Nokia Board until January 1, 2021, the Finnish telecom company said in a press release.

Nokia said that under Suri's leadership, the company became one of the top two players in telecommunications infrastructure, rising from a number four position, with the scope and scale for long-term success.

Commenting on the development, Risto Siilasmaa, Nokia Board Chair said, " With the acquisition of Alcatel-Lucent behind us and the world of 5G in front of us, I am pleased that Pekka has agreed to join Nokia. He 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."

Lundmark, who is currently the President and CEO of Finland-based leading energy company Fortum, also served as President and CEO of Konecranes, a global material-handling technology leader and held multiple executive positions at Nokia from 1990-2000, including Vice President of Strategy and Business Development at Nokia Networks, Nokia said.

I am honored to have the opportunity to lead Nokia, an extraordinary company that has so much potential and so many talented people. trong values, leading innovation and unflinching commitment to our customers have always been core to Nokia and I want to put this even more at our center as we move forward.

Lundmark