Pekka Lundmark (born 9 December 1963) is a Finnish business executive and current President and CEO of Nokia. Previously, he had served as CEO of Fortum, a Finnish state-owned energy company, from 2015 to July 2020.
Lundmark began his career with Nokia in 1990, where he held various executive positions. He left Nokia in 2000, and joined Startupfactory Oy as a managing partner from 2000 to 2002, followed by a stint as President and CEO of Hackman, a Finnish cutlery and cookware company, from 2002 to 2004. Lundmark then joined Konecranes, a Finnish company specialising in lifting equipment, as the Group Executive Vice President in 2004, and became the President and CEO of the company in 2005, serving until 2015, when he joined Fortum as the President and CEO.[1][3]
On 2 March 2020, Nokia’s Board of Directors announced that Lundmark would be the new President and Chief Executive Officer of Nokia. Lundmark was expected to leave Fortum on August 31, 2020, and join Nokia on 1 September 2020. He succeeded Rajeev Suri, who had served as President and CEO of Nokia since 2014. Suri will remain as an adviser on the board for the first year after stepping down.[1][4][5][6][7] Nokia praised Lundmark's record at Fortum, saying that he had "consistently delivered robust total shareholder returns, successfully renewed the company's strategy, and positioned it to be a strong player in the transforming global energy sector."[8]
In June, it was announced that Lundmark would join Nokia on 1 August 2020, one month earlier than planned.[9] The announcement came after Fortum said its Chief Financial Officer, Markus Rauramo, would be taking over as Fortum’s CEO from 1 July.[10]
Lundmark has served on the boards of various industry organizations in Finland, including as Chairman of the Board of Finland’s Technology Industry Association (Finnish: Teknologiateollisuus) in 2011.[11] Most recently, he served as the 2019 and 2020 Chairman of the Board of the Confederation of Finnish Industries (EK; Finnish: Elinkeinoelämän Keskusliitto; Swedish: Finlands Näringsliv), the largest employers' organization in Finland. During his tenure at EK, he prioritized partnering with the EU to find solutions to curb climate change and increasing the employment rate.[12]
Nokia Oyj[3] (Finnish: Nokia Oyj, Swedish: Nokia Abp; Finnish pronunciation: [ˈnokiɑ], English /ˈnɒkiə/) is a Finnish communications and information technology multinational corporation that is headquartered in Espoo,Uusimaa.[1] The company provides Internet services, including applications, games, music, media and messaging services, including free-of-charge digital map information and navigation services delivered through its wholly owned subsidiary HERE.[4] Its Nokia Solutions and Networks subsidiary provides telecommunications network equipment and services.[5]
As of 2013, Nokia employed 90,000 people across 120 countries, conducts sales in more than 150 countries and reported annual revenues of around €12.7 billion.[2] Nokia is a public limited-liability company listed on theHelsinki Stock Exchange and New York Stock Exchange.[6] It is the world's 274th-largest company measured by 2013 revenues according to the Fortune Global 500.[7]
In September 2013, Nokia sold what was once the world's largest vendor of mobile phones to Microsoft as part of an overall deal totaling €5.44 billion (US$7.17 billion). Stephen Elop, Nokia's former CEO, and several other executives joined the new Microsoft Mobile subsidiary of Microsoft as part of the deal, which closed on 25 April 2014.[8][9]
