Nokia CEO Rajeev Suri is stepping down

Nokia CEO and President Rajeev Suri will leave his task at the Finnish telecom-equipment maker later on this year, the business stated Monday. He’ll be changed by Pekka Lundmark, presently CEO and president of energy business Fortum. The relocation comes as Nokia has actually apparently had a hard time to stay up to date with the international shift to 5G networking innovation.

Suri will step down on Aug. 31 however continue to work as a consultant to Nokia’s board of directors up until Jan. 1, 2021. Lundmark is anticipated to take control of as CEO on Sept. 1. 

“I am honored to have the opportunity to lead Nokia, an extraordinary company that has so much potential and so many talented people,” Lundmark stated in a release. “I am confident that the company is well-positioned for the 5G era and it is my goal to ensure that we meet our commitments to our customers, employees, shareholders and other stakeholders.”

Suri was called CEO of the telecom business in 2014 following Microsoft’s acquisition of Nokia’s handset department. Nokia is presently coping telecom giants Ericsson and Huawei to supply devices that powers the develop out of next-gen 5G networks all over the world. The Espoo, Finland-based business has actually fallen back competitors and was checking out possible tactical alternatives, consisting of property sales or mergers, Bloomberg reported recently. 

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