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The change was made following Rajeev Suri’s departure after more than a decade
Pekka Lundmark has been appointed president and CEO of Nokia, effective September 1.
Lundmark is currently the CEO of leading energy company Fortum and has previously served as president and CEO of Konecranes.
From 1990-2000, Lundmark held multiple executive positions at Nokia, including vice president of strategy and business development at Nokia Networks.
Nokia board chair Risto Siilasmaa said: 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.
“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.”
Lundmark said: “I am honored to have the opportunity to lead Nokia, an extraordinary company that has so much potential and so many talented people.
“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.”
Nokia’s current president and CEO Rajeev Suri will leave his current position on August 31, 2020, and will continue to serve as an advisor to the Nokia Board until January 1, 2021.