Pekka Lundmark to replace Rajeev Suri as Nokia’s president and CEO
Nokia’s Board of Directors has named Pekka Lundmark as president and CEO of the company effective September 1, 2020. He will replace Rajeev Suri, who will stay with the company in an advisory role until January 1, 2021.
The company asserts the transition comes after Suri indicated he was considering stepping down if a proper succession procedure was put in place. “After 25 years at Nokia, I have wanted to do something different,” said Suri via a Nokia press release. “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.”
Lundmark is currently president and CEO of Fortum, an energy company based in the same place as Nokia – Espoo, Finland. However, he worked at Nokia from 1990-2000, a tenure that culminated in the role of vice president of strategy and business development at Nokia Networks. In between those 10 years and his current employment with Fortum, Lundmark was president and CEO of Konecranes, a global material-handling technology provider.
“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,” commented Risto Siilasmaa, Nokia board chair. “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.”
“I am honored to have the opportunity to lead Nokia, an extraordinary company that has so much potential and so many talented people,” added Lundmark. “Together we can create shareholder value by delivering on Nokia’s mission to create the technology to connect the world. 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. Strong 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.”
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Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
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