Nokia appoints Rajeev Suri as next CEO


In an announcement made earlier today, Nokia announced its next CEO. The erstwhile smartphone manufacturer has named its former networking head, Rajeev Suri as its new chief executive.

“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.”

As Rajeev takes over on 1st May, he will be responsible for restructuring the entire business including a 5 billion Euro capital improvement program. This will include stock buybacks, dividend boost as well as 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. Nokia’s advanced technology business will also remain a critical part of the company and might make a play in sensors, radio technologies to strengthen their patent portfolio. Nokia expects to further license out these patents. Over time, the NSN name is expected to be phased out in favor of the Nokia brand.
[Via – Recode]

Author: Dhruv Bhutani

Your friendly neighborhood techie. Currently using a Pixel 2 XL. Catch him on Twitter (@DhruvBhutani) / Facebook .