Nokia has a new CEO, and it’s the former networking head Rajeev Suri.
“As Nokia opens this new chapter, the Nokia Board and I are confident that Rajeev is the right person to lead the company forward,” said Risto Siilasmaa, Chairman of the Nokia Board of Directors. “He has a proven ability to create strategic clarity, drive innovation and growth, ensure disciplined execution, and deliver results. We believe that his passion for technology will help ensure that Nokia continues to deliver innovations that have a positive impact on people’s lives.”
Rajeev will be taking over his duties tomorrow, on May 1st, and his job will be to restructure the entire business. This will include a 5 billion Euro capital improvement program which will be used for stock buybacks, dividend boost and debt reduction. Suri reaffirmed that the company is committed to its HERE Maps division and will continue investing in it alongside their network gear business. In addition, Nokia’s advanced technology business will also remain a critical part of the company and might be involved in sensors and radio technologies to strengthen their patent portfolio. We also hope to see some Nokia wearable device launching in due course but that part is everything but confirmed at this stage.
The NSN name is expected to be phased out in favor of the Nokia brand.