Nokia develops and delivers the industry’s only end-to-end portfolio of network equipment, software, services and licensing that is available globally. Customers include communications service providers whose combined networks support 6.1 billion subscriptions, as well as enterprises in the private and public sector that use Nokia’s network portfolio to increase productivity and enrich lives.
Nokia reported on Monday that current COO Joerg Erlemeier will step down and leave the company, effective January 1st, 2020. The role of Chief Operating Officer will be dismantled and distributed among other leaders in the company. “Joerg has been a long-time, trusted colleague,” said Nokia President and Chief Executive Officer Rajeev Suri. “He leaves the company with my thanks and deep appreciation for his many important contributions.”
“After 25 years at Nokia, I am ready to take on new challenges,” said Erlemeier. “While the company is in the midst of a transition, I leave firm in my belief that the right plan is in place to improve future performance. I wish the company and all my colleagues the very best.”
Nokia has been struggling in 2019 as the company has taken steps to lower future expectations during its Q3 2019 earnings report. The company lowered its guidance for full year 2019 and 2020. The company has postponed its dividend and share value has fallen over 30% since the beginning of 2019.
Written by Nikita Medvedev.
View the original article at here.