Nokia starts the rest of its life as it completes the Devices & Services business sale to Microsoft, naming Rajeev Suri CEO and refreshing its strategy to focus on networks, location and technologies.
Suri is a 20-year Nokia veteran and holder of a number of exec positions at the company, most recent being CEO of Nokia Solutions & Networks (formerly Nokia Siemens, now simply "Networks"), a position he has held since 2009.
Once Suri starts leadership duties on May 2014 interim CEO Risto Siilasmaa returns to being chairman of the Nokia board.
"As Nokia opens this new chapter, the Nokia Board and I are confident that Rajeev is the right person to lead the company forward," Siilasmaa says. "He has a proven ability to create strategic clarity, drive innovation and growth, ensure disciplined execution, and deliver results."
As mentioned earlier, the change in CEO also brings about a change in the Nokia's focus. The next 10 years will see the company concentrate on its "three strong businesses," Networks, Here and Technologies.
"Our goal is to optimize the company so that each business is best enabled to meet its goals," Suri says. "Where it makes sense to do so, we will pursue shared opportunities between the businesses, but not at the expense of focus and discipline in each."
For that aim the company will make use of the cash brought about by the Devices & Services sale. Or part of it, at any rate, since a good chunk will go to shareholders in the shape of dividends.
Also released by Nokia is the Q1 2014 interim report-- one revealing the true reason why the handset business was offloaded to Microsoft. Once an industry titan, Q1 2014 Nokia devices losses total €239, a drag on an otherwise profitable (by €108 if one removes the handset business) company.
