Rajeev Suri is Nokia's new President and Chief Executive Officer
Having completed the sale of substantially all of its Devices & Services business to Microsoft on April 25, 2014, Nokia today announced the appointment of Rajeev Suri as President and Chief Executive Officer, effective May 1, 2014.
The devices company, now part of Microsoft, also iterated its vision to be a leader in technologies important in a connected world.
Nokia said it will realize this vision by building on Nokia's three strong businesses in networks, location and technologies.
The company also announced plans for a EUR 5 billion programme to optimize its capital structure, including the Nokia Board's proposal to the Annual General Meeting 2014 for the dividend and for an authorization for the Board to repurchase shares.
The company has also announced a new governance structure and the appointment of a new leadership team, effective May 1, 2014.
The New President and CEO
Rajeev Suri, President and CEO of Nokia Corporation effective May 1, 2014, is an old Nokia hand.
He joined Nokia in 1995 and has held a wide range of leadership positions in the company.
Since October of 2009, he has served as CEO of NSN, the former joint venture between Nokia and Siemens that is now fully owned by Nokia. During his tenure as CEO, that business went through a radical transformation to become one of the leaders in the telecommunications infrastructure industry.
"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."
Siilasmaa, who has also been serving as an interim CEO, will return to focusing exclusively on his role as Chairman of Nokia's Board of Directors as of May 1, 2014.
"I am honored to have been asked to take this role, and excited about the possibilities that lie in our future," said Rajeev Suri. "Nokia, with its deep experience in connecting people and its three strong businesses, is well-positioned to tap new opportunities during this time of technological change. I look forward to working with the entire Nokia team as we embark on this exciting journey."
Long-term leadership targeted in three key areas
Nokia said in its statement it believes that over the next 10 years billions of connected devices will converge into intelligent and programmable systems that will have the potential to improve lives in a vast number of areas: time and availability, transportation and resource consumption, learning and work, health and wellness, and many more.
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