Nokia has made minor changes to its Group Leadership Team though it faced significant challenges in several telecom markets.
Finland-based Nokia yesterday reported 8 percent drop in its revenue to EUR 4.326 billion for Q3 2024. For comparison, Q3 revenue of Ericsson fell 4 percent to SEK 61.8 billion or EUR 5.41 billion. Both Nokia and Ericsson indicated that telecom operators are halting their spending on mobile network.
Earlier media reports suggested that Nokia board is under pressure to look for a replacement for CEO Pekka Lundmark. But today’s announcement did not indicate any change in the job role for the 60-year old Pekka Lundmark.
Nokia has split its Corporate Affairs function into two divisions: Geopolitics and Government Relations, and Communications.
Mikko Hautala, former Finnish Ambassador to the U.S., will become the Chief Geopolitical and Government Relations Officer.
Mikko Hautala, known for his diplomatic experience, will be based in Espoo, Finland, reporting directly to Nokia’s President and CEO, Pekka Lundmark. Mikko Hautala’s role is to navigate the growing influence of geopolitical issues on Nokia’s business.
Nokia lost significant business in China and the United States. Nokia’s China revenue fell 10 percent to EUR 258 million in Q3 2024. For comparison, Ericsson’s China revenue was EUR 162 million.
Nokia’s sales in North America dropped 3 percent to EUR 1.216 billion. Ericsson’s revenue in the United States was EUR 2.38 billion.
Nokia has also promoted Louise Fisk to Chief Communications Officer with immediate effect. Based in London, U.K., Louise Fisk previously held senior leadership roles in both Nokia and other companies such as BAE Systems and Logica.
Nokia has revealed that Melissa Schoeb, Nokia’s Chief Corporate Affairs Officer, will step down and leave the company by the end of the year.
Jenni Lukander, President of Nokia Technologies, will depart from Nokia at the close of 2024. Revenue of Nokia Technologies has grown 32 percent to EUR 352 million during the third-quarter of 2024.
Patrik Hammaren, Nokia’s Chief Licensing Officer for Wireless Technologies, will serve as interim head of Nokia Technologies while the company searches for Lukander’s successor.
Baburajan Kizhakedath
