“I am honoured” – former Nokia exec named CEO

Pekka Lundmark.jpg

Nokia’s former VP of strategy and business development has said he is “honoured” to be appointed as the company’s next president and CEO, succeeding Rajeev Suri, who has resigned after more than a decade as president and CEO of Nokia and Nokia Siemens Networks.

Pekka Lundmark, who held a series of senior positions with Nokia in the 1990s, will be based out of Nokia's Espoo office, in Finland, when he takes on the new post effective 1st September.

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

“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 centre as we move forward,” he added.

Between 1990 and 2000, Lundmark held multiple executive positions at Nokia, including VP of strategy and business development. He then went on to lead Konecranes as president and CEO before heading Finland’s clean energy provider Fortum Corporation.

Lundmark holds a Master of Science degree from Helsinki University of Technology

According to the announcement from Nokia, the board of directors conducted “a structured process for CEO succession”, liaising closely with Suri to “develop internal candidates and identify external candidates”.

“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,” said 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 digitisation, and key markets such as the United States and China; and a focus on strategic clarity, operational excellence and strong financial performance.”