rediff.com
News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Rediff News  All News 
Rediff.com  » Business » India born Rajeev Suri may become Nokia's next CEO

India born Rajeev Suri may become Nokia's next CEO

March 14, 2014 15:01 IST


Reuters

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 newspaper report said on Friday. 

Helsingin Sanomat newspaper, 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.

India born Rajeev Suri may become Nokia's next CEO

Image: Rajeev Suri
Photographs: Courteys, Nokia

The companies have been expecting to finalise the deal by the end of March, and the newspaper said the board of Nokia would nominate a new chief executive shortly after that. 

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. 

India born Rajeev Suri may become Nokia's next CEO

Image: Stephen Elop, CEO, Nokia
Photographs: Luke Macgregor/Reuters

However, NSN recently reported its fourth-quarter sales fell 22 percent 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 percent of Nokia's sales after the handset deal.

India born Rajeev Suri may become Nokia's next CEO

Image: Nokia headquarters
Photographs: Reuters

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 organisation around the closing of the pending transaction," said spokeswoman Maija Taimi.

Source: REUTERS
© Copyright 2022 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.