India-Born Rajeev Suri is New Nokia CEO

Nokia, which is fully acquired by Microsoft has today announced Rajeev Suri as the company's new Chief Executive officer. Until now Suri was leading the Nokia Solutions and Networks (NSN), the network equipment unit that competes with larger rivals such as industry leader Ericsson as well as Chinese rival Huawei. Now Suri is expected to outline the company's new strategy with a focus on its network equipment business.

Timo Ihamuotila will continue as Nokia's chief financial officer and Risto Siilasmaa as the chairman of the board, Nokia reportedly said. It's not been long time since Nokia finalized the 5.4 billion euro ($7.5 billion) sale of its struggling mobile phone business to Microsoft and the move might have brought Suri into the scene now. However, issues regarding Nokia's Chennai plant is yet to be solved.

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Talking about Suri's leadership in the company, his division was under loss for several years but turned profitable in 2012 after he slashed costs and shed unprofitable businesses. Last year, it was reportedly said that NSN contributed most of the 12.7 billion euro (USD 17.6 billion) turnover Nokia made from its continuing operations.

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Nokia Chairman Risto Siilasmaa reportedly said, "Rajeev is the right person to lead the company forward." He further added, "He has a proven ability to create strategic clarity, drive innovation and growth, ensure disciplined execution, and deliver results."

Suri, in a video posted on the companys website said, "I have been with Nokia for almost 20 years, and the opportunities ahead of us are as great as I have ever seen."