Suri to step down as Nokia CEO

• Struggling to gain a foothold in the 5G market, Nokia (NYSE:NOK) CEO Rajeev Suri is stepping down after just over half a decade at the helm of the Finnish network firm.
• He'll be replaced by Pekka Lundmark, the outgoing CEO of Fortum Oyj, amid reports that Nokia is exploring strategic options.
• In October, Nokia suspended its dividend and cut its earnings guidance, triggering a 23% decline for its share price in a single day, while over the past 12 months, the company has lost about a third of its market value.

Comments

[joshvegas]

I encourage every Nokia shareholder to view today's press event my.icareus.com/...

Both Suri and Siilasmaa and new BoD Baldauf and CEO Lundmark speaking. There is NO discussions about strategic changes (sale, merger) - probably first take away

[Allu]

Bunch of lightweights! Cliche after cliche but not a word to console downhearted investors

[Allu]

A course in English language pronunciation skills might also help Sillasmaa and Baldauf to communicate with nervous Nokia investors.

[Andreas Hopf]

An incestuous love-fest of yesteryear managers ; )

[Chancer]

Finally Suri leaves, which should have happened a long time ago. He has been a disaster for NOK.

[Videnak]

Suri out and Nokia has not moved up? That can only mean, that Suri has completely ruined NOK and what has left has very little value....

[Andreas Hopf]

Look at the enormous size of the float ; )

[Chris Lau]

That M&A chatter on $NOK $CSCO $ERIC is looking spicy. Buy to $5.00.

[Leo50]

Which company is he gonna ruin next? Or he's a pariah now and stay unemployed.

[BritishInvestor]

He was awful!!!

[Allu]

He was aided and abetted by the highest echelons of Finland's captains of industry.

[logiotek]

Didn't dent the stock.

[thiseffengeye]

Finally. This alone really should double the SP.

[nidneurons]

Yet the S/P end up the day with only 1.55 % up.

[bluescorpion0]

the idiot has left the building, new idiot assigned by the state.

[Allu]

The Finnish authorities and Solidium are certainly not
immune from criticism for their role in Nokia's demise.

[Allu]

Turning the good ship Nokia round will be a monumental task. Good luck to the new captain!

[Vpk]

Dream Team: Baldauff as Chairman and Lundmark as CEO. Look at the Lundmark track record at Fortum!

[joshvegas]

please elaborate

[IntraAnalysis]

Agree. Fortum chart looks good. Hopefully nokia will progress the same way.

[Jack Yip1]

dream for a year , finally dream fulfilled.. thx nnbye suri n welcome lundmark

[WWG1_WGA_Q]

NOKIA NATION CELEBRATION!!! Get ready for it....it's coming...NOK has something up their sleeve. Brace for the unexpected marvelous surprise...it's coming. Long NOK. GLTAL!!

[Andreas Hopf]

Good news.

Lundmark can now go about the necessary breaking up and begin laying off the overly bloated workforce to ready the resulting "Nokia light" for going to bed with Ericsson or another bidder. Long time shareholders could eventually exit with a lesser loss ; )

[4301ipana]

Baldauf and Lundmark. Back to the nineties...

[joshvegas]

yap, doesn't look good at first impression

[Andreas Hopf]

"doesn't look good at first impression"

No new CEO can undo over 10 years of blunder in a short time, if at all.

[Kerfuffle Finn]

Pekka Lundmark is one of the greatest. This is not good news, this is the best news any Nokia bagholder could have dreamed of.

[coalition of chaos]

Nope, out of all the possible CEOs, Nokia hires someone who 'still has a lot to learn' and has no clue about the tech sector and the area in which Nokia operates

[harrir]

Lundmark has plenty of experience in the tech sector including Nokia Networks earlier.

[f1life]

Wow am I dreaming?? Finally... should be worth 20% appreciation instantly.

[Allu]

Yes, you're dreaming!

[Haribo]

Finally

[Kayode Omotosho]

Wow. Strategic options with who? This is interesting.

[WWG1_WGA_Q]

Hello @Kayode Omotosho nice to see this news...will be expecting something to break soon concerning the options NOK will take, nothing but good can come from this.

[Kayode Omotosho]

True novavax. The market has always pushed for Suri to act faster.

[qdmj6]

The merger with Huawei might serve best the interest of shareholders. China managed to stop Corona virus effectively, so China and its companies are soon back in business with full capacity again.