New CEO for Nokia Siemens

Nokia Siemens Networks, the telecom-equipment joint venture of Nokia Corp. (NOK - Analyst Report) and Siemens AG (SI - Analyst Report) appointed Rajeev Suri as its new CEO, replacing Simon Beresford-Wylie from Oct 1. Beresford-Wylie who decided to step down will support Suri during a transition period through Nov 1. The new CEO will be based at Nokia Siemens Network’s headquarters in Espoo, Finland.
 
Suri who is leading the Services business of Nokia Siemens Networks brings 20 years of experience in the telecommunications industry to the role of CEO. Previous positions have included leading the Asia-Pacific region during a time of significant growth in both product and service sales; overseeing teams for important customers such as Hutchison; and managing products, such as the early cellular transmission portfolio of Nokia. In previous roles, he was based in various locations including India, Finland, the United Kingdom, West Africa and Singapore.
 
Beresford-Wylie joined Nokia in 1998 and held several positions in Asia and Europe before his appointment to head Nokia’s infrastructure business group in February 2005. He was one of the leading drivers behind the creation of Nokia Siemens Networks and assumed the position of CEO of the company when it commenced operations on April 1, 2007. He has been a member of the Nokia Group Executive Board since 2005.
 
With 60,000 people in more than 150 countries and 600 account teams serving as many operator customers globally, Nokia Siemens Networks is one of the world’s largest telecommunications infrastructure companies. The company provides a complete portfolio of mobile, fixed and converged network technology, as well as professional services including consultancy and systems integration, deployment, maintenance and managed services.
 
We currently have Neutral recommendations on Siemens and Nokia.

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