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Nokia appoints Rajeev Suri as President and CEO

Zafar Anjum | April 29, 2014
Also announces new strategy, programme to optimize capital structure, and leadership team

Through its Technologies business, Nokia will invest in the further development of its industry-leading innovation portfolio. This will include 1) expanding their successful intellectual property licensing program; 2) helping other companies and organizations benefit from our breakthrough innovations through technology licensing; and 3) exploring new technologies for use in potential future products and services.

The Technologies team includes hundreds of world-class scientists and engineers who have driven more than half of Nokia's recent patent filings and many of whom are recognized as leading experts in fields that are essential for enabling the future connected world.  These areas include low-power connected smart multi-sensor systems, distributed sensing, and intelligent interplay between various types of radio technologies.

"Nokia's industry leading intellectual property has the potential to create significant value for our licensees and our shareholders," said Rajeev Suri. "With the strength of our Technologies team and continuing investment in advanced research and development, we can also drive new opportunities for Nokia in both business-to-business and consumer markets."

Nokia's continuing businesses invested more than EUR 2.5 billion in research and development in 2013.'We believe that the company has a strong financial position and the capacity to continue to make the investments necessary to remain an innovation leader in the three segments in which it competes,' the Nokia statement said.

Planned EUR 5 billion capital structure optimization programme

As a result of the closing of the transaction between Nokia and Microsoft, Nokia's financial position and earnings profile have both improved significantly, according to the comoany.

To improve the efficiency of Nokia's capital structure, the Nokia Board announced plans for a EUR 5 billion capital structure optimization programme which focuses on recommencing ordinary dividends, distributing deemed excess capital to shareholders, and reducing interest bearing debt. 

 

 

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