Nokia names new CFO, as exec reshuffle continues

Published: 11 June 2020 - 11:43 a.m.

Finnish network equipment provider, Nokia, has announced that it has appointed a new Chief Financial Officer, as the company continues an overhaul of its senior executives.

Nokia named a Marco Wiren as its new finance chief on Thursday, with Wiren joining from Finnish engineering firm Wartsila. He will take over from Kristian Pullola from the 1st of September 2020.

“Marco Wiren has deep financial and leadership experience, a sharp focus on driving operational excellence, and a demonstrated record of success. He also brings an extensive background in business-to-business and technology companies,” the company’s new CEO, Pekka Lundmark said in a statement.

Nokia has recently overhauled its senior management team, with Pekka Lundmark replacing Rajeev Suri as chief executive officer, also with effect from the 1st of September 2020. Last month Sari Baldauf took up the reins as chairwoman of Nokia, succeeding Risto Siilasmaa who had held the position for the previous eight years.

The company has seen its share price slump over the past 12 months as it has lost pace in the 5G race with its rivals Ericsson and Huawei. The new leadership team will be charged with building Nokia’s share price and resurrecting its fortunes in the 5G space.

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