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Nokia Siemens CEO Quits, Suri To Take Over
Published Sep 2, 2009
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The chief executive of Nokia Siemens Networks has resigned and will be replaced by Rajeev Suri, head of the telecom equipment maker's key Services unit, Nokia said on Tuesday.
Suri, 41, joined Nokia in 1995 and has been an NSN executive board member since 2007.
Services are gaining in importance for western vendors as they struggle to compete with hardware pricing from Chinese rivals like Huawei.
Suri will take the helm at NSN a distant second to Ericsson in the shrinking global mobile network gear market from October 1. Former CEO Simon Beresford Wylie will leave in November after a handover period.
"We began a comprehensive succession process when Simon shared his desire to depart at the appropriate time," Nokia said in a statement.
Following his appointment, Suri said the struggling industry was set to face more consolidation.
"There is room for three," Rajeev Suri told Reuters in an interview, adding that Nokia Siemens was planning on being one of those left standing from the current crop of five or six telecom equipment firms with global aspirations.
The market has seen cutthroat competition for new business during the past few years, driven by Asian vendors, and the outlook remains tough.
The market is led by Sweden's Ericsson, with China's Huawei and ZTE gaining market share at the expense of Nokia Siemens and Alcatel Lucent.
Nokia and Siemens combined their network equipment operations in 2007 and Suri said the integration was finished, and the firm would focus on executing its current strategy under new management.
Posted by
VMD - [Virtual Marketing Department]
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