Pekka Lundmark replaces Rajeev Suri as President and CEO of Nokia
Nokia’s Board of Directors has appointed Pekka Lundmark as President and Chief Executive Officer of Nokia. Lundmark is expected to start in his new role on September 1, 2020.
Lundmark is currently President and CEO of Fortum, a leading energy company based in Espoo, Finland, where he consistently delivered robust total shareholder returns, successfully renewed the company’s strategy, and positioned it to be a strong player in the transforming global energy sector. From 1990-2000, he held multiple executive positions at Nokia, including Vice President of Strategy and Business Development at Nokia Networks. Lundmark holds a Master of Science degree from Helsinki University of Technology. He will be based in Espoo, Finland.
“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. 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.”
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. During his tenure as CEO of Nokia and Nokia Siemens Networks, Suri led a significant consolidation of the telecommunications infrastructure sector; a fundamental turnaround of Nokia Siemens Networks including the disposal of multiple non-core assets; massive growth in the company’s highly profitable patent licensing business; the integration of Alcatel-Lucent; and successful diversification into new software and enterprise markets. Under his 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.