UnFinnished business

2 March 2020 By Ed Cropley Follow @edwardcropley

The Finnish telecom-kit maker’s new boss Pekka Lundmark needs to hit the ground running. Improving the 19 bln euro firm’s profitability is the first step. That will help him navigate choppy waters between Washington and Beijing, and prepare for the next wave of software-based 5G.

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Nokia Chief Executive Rajeev Suri is stepping down in September, the Finnish telecommunications equipment maker said on March 2. He will be replaced by Pekka Lundmark, currently chief executive of Finnish energy group Fortum.

Lundmark held a number of executive positions at Nokia between 1990 and 2000.

Nokia issued a profit warning in October 2019 that wiped a third off its market value and forced it to admit to delays in the development of its next-generation 5G phone-network equipment.

Nokia shares rose 4.7% to 3.61 euros by 0825 GMT on March 2

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