Finland’s Nokia has promoted Rajeev Suri, head of its telecoms equipment unit NSN, to CEO as it sets out a new strategy after selling most of its handset and services assets.
Suri will take up his role on 1 May, when he will lead the vendor’s new…
Finland’s Nokia has promoted Rajeev Suri, head of its telecoms equipment unit NSN, to CEO as it sets out a new strategy after selling most of its handset and services assets.
Suri will take up his role on 1 May, when he will lead the vendor’s new vision to focus on the three core businesses areas of networks, location and technologies.
Its strategy is being backed by a €5bn (US$6.94bn) programme to optimise its capital structure, including a dividend and the repurchasing of shares.
The networks business is essentially NSN, a former joint venture between Nokia and Germany’s Siemens that was recently taken over by the Finnish group.
Its location segment is underpinned by Nokia’s HERE business, a provider of map content that the group said powers four out of five in-car navigation systems.
Meanwhile the technology side will focus on further developing Nokia’s innovation portfolio, which covers areas ranging from low-power connected smart multi-sensor systems to distributed sensing.
“Where it makes sense to do so, we will pursue shared opportunities between the businesses, but not at the expense of focus and discipline in each,” said Suri.
Former Nokia CEO Stephen Elop stepped down to join Microsoft on Friday, when the €5.4bn (US$7.52bn) sale to the US technology giant was officially closed.
