After Microsoft successfully purchased
its handset business, Nokia announced Rajeev Suri as the company's new
Chief Executive Officer. Suri is a 46-year old electronics and telecom
engineer who
has been on top of Nokia's mobile network unit since 2009. In the
past, he accomplished a successful turnaround of Nokia's Solutions
and Networks division which was left in shambles after merging with
Siemens's network unit back in 2006.
Rajeev Suri commented: "With
our three strong businesses - Networks, HERE and Technologies - and
position as one of the world's largest software companies, we are
well placed to meet our goal to be a leader in the technologies for a
world where everybody and everything is connected." The CEO
also elaborated on the company's three-part strategy for growth.
Nokia's Networks business, which serves most of the world's
largest 100 operators, will invest in new products and services. The
company's HERE arm will target technology for connected cars,
cloud services for personal mobility, wearables and special purpose
devices, and location-based analytics. Finally, Nokia's Technologies
business will focus on licensing and exploring "breakthrough
innovations".
At present, Nokia will embark on an
approximately $6.9 billion (5 billion EUR) capital structure
optimization program, which involves paying off dividends to
shareholders, repurchasing shares, reducing debt, and other financial
efforts.
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