New head of Nokia to start in August

Finnish telecommunications equipment maker Nokia on Wednesday said its incoming president and chief executive officer (CEO) Pekka Lundmark will assume his new post a month earlier than expected.

Lundmark, a Finnish national, was due to begin his new position on 1 August, replacing Rajeev Suri, Nokia said in a statement.

Nokia announced the hire of the 56-year-old Lundmark, chief executive of Finnish-based energy group Fortum, in March. He had several top posts at Nokia between 1990 and 2000.

The earlier start date is due to Fortum having appointed a new CEO as of 1 July 2020 and after a one-month transition period Pekka Lundmark is available to take over at Nokia.

Suri was to serve as an advisor to the Nokia Board until 1 January 2021, Nokia said.

Broadband software

After selling its loss-making handset business in 2014 to US software giant Microsoft, the Finnish company's focus has been on providing broadband infrastructure software and services.

Nokia is investing in 5G networks amid strong competition from rivals like China's Huawei and Sweden's Ericsson.