Nokia announced this morning that the company will accelerate its leadership change that was announced three months ago. The new CEO Pekka Lundmark will start his Nokia adventure on 1st August, a month earlier than the announced 1st September date as the end of the transition period.
The current CEO of Nokia Rajeev Suri will step down on 31st July and continue to serve as an advisor to Nokia board until 1st of January 2021. Nokia explains that the earlier date of Mr. Lundmark’s appointment is due to the fact that his previous company Fortum appointed a new CEO as of July 1st, and after a month of transition period he can join Nokia, so why wait?
Nokia has a lot of challenges ahead, from the 5G rollout competition with Ericsson and Huawei, taking more marketshare in the telco software business and work on its brand and technology licensing business. The new CEO will have a lot of decisions to make. From a consumer perspective, I hope Nokia will step up its brand licensing game and maybe release some consumer product itself? The Beacon routers are gorgeous pieces of hardware, so there surely are still people within Nokia that know how to make a mass consumer product.