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Pekka Lundmark has replaced Rajeev Suri as the Nokia top manager



Suri is replaced by Pekka Lundmark, which comes from the Fortum Oyj electricity company



02.Mar.20 8:34 AM
By Shawn Highstraw
Photo youtube.com

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Pekka Lundmark has replaced Rajeev Suri as the Nokia top manager
Nokia's Rajeev Suri says goodbye to the Finnish network technology company at the end of August. In his five years with the group, Suri was unable to gain a head start with 5G, the fast internet for mobile. Suri is replaced by Pekka Lundmark, which comes from the Fortum Oyj electricity company.

Nokia is lagging behind competitors such as Ericsson and Huawei in the rollout of the 5G network. Under the leadership of Suri, the group was unable to develop its own chipsets. As a result, Nokia had to purchase more expensive alternatives, which increased costs and took a bite out of profitability. The result was that the technology company canceled its dividend last fall. In the financial market, the Nokia share lost about a third of its market value in the past year.

According to Nokia, Lundmark has proven itself in the past as a top man who can prepare a company for the future. In addition, he has experience with the important markets for Nokia in China and the United States, according to the president of the Finnish company.



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