Sept 12 (Askume) – Nokia (NOKIA.HE) told Askume on Thursday that it has not started a process to replace Chairman and Chief Executive Pekka Lundmark, denying a Financial Times report.
“The board of directors fully supports Chairman and CEO Pekka Lundmark and there is currently no process underway to replace him,” Nokia said in a statement to Askume.
The company said the leadership team’s long-term succession plan is continuously evaluated and discussed through a comprehensive approach involving internal and external candidates, with the CEO and President fully informed of the process.
Lundmark was appointed CEO of Nokia in 2020.
In August, Nokia reported a 32% drop in second-quarter operating profit, citing weak demand for 5G telecoms equipment, but said sales should improve by the end of 2024, helped by North American orders.
