Rajeev Suri named Nokia Siemens CEO1 min read . Updated: 01 Sep 2009, 11:25 PM IST
Rajeev Suri named Nokia Siemens CEO
Helsinki: Nokia Siemens Networks, the world’s second biggest maker of telecommunications equipment, named Rajeev Suri chief executive officer (CEO) of the joint venture between Nokia Oyj. and Siemens AG.
Suri, 41, will succeed Simon Beresford-Wylie on 1 October, Espoo, Finland-based Nokia said in a statement to the Helsinki Stock Exchange on Tuesday.
Suri brings the right values, experience and industry expertise to take Nokia Siemens Networks forward, Olli-Pekka Kallasvuo, Nokia’s CEO, said in the statement.
Nokia Siemens was created in 2006 as a joint venture to take on market leader Ericsson AB. The business has posted operating losses on restructuring charges as it removed overlaps and built up the higher margin managed-services business.
Nokia on 16 July forecast the market for Nokia Siemens products and services to contract about 10% this year and sees its market share declining moderately.
Suri, currently the head of services at Nokia Siemens Networks, joined Nokia in 1995 and has served in several positions, including heading the Asia-Pacific region. He will relocate to Finland from India for the job. Nokia reports the unit’s sales in its results and then settles profits and losses with Siemens as a minority shareholder.