Nokia names Rajeev Suri as its new CEO

Nokia names Rajeev Suri as its new CEO

PanARMENIAN.Net - Nokia has named Rajeev Suri as its new chief executive officer, BBC News reports.

The 46-year old has until now led Nokia Solutions and Networks (NSN), the network equipment unit of the firm.

The unit is set to become its key business after Nokia finalized the sale of its mobile phone division to Microsoft last week.

The sale saw Nokia's former chief executive Stephen Elop leave the firm to become executive vice president of the Microsoft devices group.

Risto Siilasmaa, chairman of Nokia, said Suri "has a proven ability to create strategic clarity, drive innovation and growth, ensure disciplined execution, and deliver results".

Indian-born, Suri has been working at Nokia for the past 20 years and has lead the firm's network equipment unit since October 2009, helping to make it profitable.

The Finnish company said it would now focus on networks, mapping services, technology development and licenses.

Nokia said it expects billions of devices to become interconnected over the next ten years across a range of sectors such as transportation, health and wellness. It said this development would require increased connectivity to handle the growing data traffic, improved location services as well as innovation in areas such as radio and low power technologies.

"Nokia's vision is to be a leader over the long term in these three areas," the firm said in statement.

The company also announced that it would pay a special dividend of 0.26 euros ($0.36) per share - subject to shareholder approval - in 2014 as a result of the sale of its mobile phone unit.

The extra dividend amounts to around 1bn euros.

Nokia sold its mobile phone business to Microsoft for 5.44bn euros.

 Top stories
Using standard obfuscation techniques, the software was able to avoid detection by most antivirus engines, Blue Coat said.
"Given the response from the market and clients... we expect the S6 to set a sales record for all Galaxy models," Lee Sang-Chul said.
Messenger is being upgraded to allow users to share photos, audio clips, videos, animated snippets and other digital content.
The government argues that the new law is necessary in part to give a legal framework to intelligence work in France.
Partner news