Pekka Lundmark

Pekka Lundmark
Name	Pekka Lundmark
Birth date	3 April 1963
Birth place	Helsinki, Finland
Nationality	Finnish
Alma mater	University of Helsinki, Helsinki University of Technology
Occupation	Business executive
Title	President and CEO of Nokia
Term start	August 1, 2020
Predecessor	Rajeev Suri

Pekka Lundmark is a Finnish business executive who has served as the President and CEO of Nokia since August 2020. He previously held leadership roles at several major Finnish corporations, including serving as the President and CEO of the energy company Fortum and holding various positions at Nokia earlier in his career. Lundmark is recognized for his strategic focus on technology leadership, particularly in the competitive fields of 5G and network infrastructure.

Early life and education

He was born in Helsinki, Finland. Lundmark pursued his higher education at two prestigious institutions in the Finnish capital, earning a Master of Science in Engineering from the Helsinki University of Technology and a Master of Science in Economics from the University of Helsinki. His academic background in both technical and business disciplines provided a strong foundation for his future career in international technology and industrial management.

Career at Nokia

He began his professional career at the consulting firm McKinsey & Company before joining Nokia in the early 1990s. During his initial tenure at the telecommunications giant, he held several management positions, contributing to the company's early growth in the mobile phone and network infrastructure markets. His experience during this period provided deep insights into the global telecommunications industry and the operations of a major technology company.

Tenure at Fortum

In 2015, Lundmark was appointed President and CEO of Fortum, a leading Nordic energy company. During his leadership, he oversaw Fortum's strategic expansion, most notably its significant investment in and eventual majority ownership of the German energy group Uniper. His tenure at Fortum was marked by a focus on the energy transition, steering the company towards cleaner energy solutions and navigating complex international markets and regulatory environments in the European Union.

Return to Nokia as CEO

He returned to Nokia as its President and CEO in August 2020, succeeding Rajeev Suri. His appointment came at a critical juncture for the company, as it sought to strengthen its position in the global 5G equipment market against strong competitors like Ericsson and Huawei. The Nokia Board of Directors tasked him with executing a strategic reset to improve profitability and technological competitiveness.

Leadership and strategic direction

Upon his return, he implemented a new operating model, restructuring the company into four business groups: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. This reorganization aimed to enhance accountability and agility. A key strategic shift under his leadership has been a heightened investment in research and development to regain technology leadership, particularly in 5G and emerging areas like Open RAN and network-as-a-service solutions. His strategy has focused on winning key contracts with major telecommunications operators such as AT&T, T-Mobile US, and BT Group.

Personal life

Details about his family and private life are kept largely out of the public sphere. He is known to maintain a low profile outside of his professional commitments. Lundmark is a notable figure in the Finnish business community and is often cited in discussions about the country's industrial leadership and innovation landscape alongside other executives from companies like Kone and Wärtsilä.

Category:Finnish businesspeople Category:Nokia people Category:1963 births Category:Living people