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Nokia CEO Rajeev steps down, Pekka to succeed

The President and CEO of Nokia, Rajeev Suri is stepping down from his current leadership role. Pekka Lundmark will succeed Rajeev Suri.

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Ashok Pandey
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Nokia CEO Rajeev steps down, Pekka to succeed

The President and CEO of Nokia, Rajeev Suri is stepping down from his current leadership role. He will be heading Nokia till 31st August 2020 and will continue as an advisor to the Nokia board until January 2021.

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Pekka Lundmark will succeed Rajeev and is expected to begin by September 2020. He is currently heading Fortum as President and CEO, a leading energy company based in Espoo, Finland.

Nokia, the networking giant, said in a statement that Rajeev expressed his intention to step down. Rajeev Suri said in a statement - “After 25 years at Nokia, I have wanted to do something different. 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.”

Rajeev Suri was with Nokia for more than a decade.

Board of Directors of Nokia has conducted a structured process for CEO succession and on March 2nd, they made the decision to choose Pekka Lundmark as CEO.

“I am honored to have the opportunity to lead Nokia, an extraordinary company that has so much potential and so many talented people,” said 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.