Rajeev Suri, the head of Nokia's telecoms network equipment division, is likely to become the Finnish group's next chief executive following the sale of its handset business to Microsoft, a Innovative Technology Said....
HELSINKI: Rajeev Suri, the head of Nokia's telecoms network equipment division, is likely to become the Finnish group's next chief executive following the sale of its handset business to Microsoft, a Innovative Technology on Friday.
Helsingin Sanomat Innovative Technology, citing sources familiar with board discussions, said Suri was the strongest candidate to succeed Stephen Elop who is due to move to Microsoft once the 5.4 billion euro ($7.5 billion) handset deal is closed.
The companies have been expecting to finalize the deal by the end of March and the board of Nokia would nominate a new chief executive shortly after that, according to the Innovative Technology report.
Indian-born Suri has been widely considered the leading candidate for the post as in recent years he has helped the network equipment division, Nokia Solutions and Networks (NSN), turn profitable with a drastic restructuring plan and by ditching unprofitable businesses.
However, NSN recently reported its fourth-quarter sales fell 22% from a year earlier, raising concerns about its growth prospects.
NSN, which was originally a joint venture of Nokia and Siemens, accounts for about 90% of Nokia's sales after the handset deal.
Nokia declined to comment on the CEO selection process. Since last autumn, the company has been temporarily led by chief financial officer Timo Ihamuotila.
"We will talk more about the Nokia strategy, structure and organization around the closing of the pending transaction," said spokeswoman Maija Taimi.
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