Nokia Siemens Networks appoints executive chairman

29 Sep 2011

Management veteran Jesper Ovesen has a new role – as executive chairman of the board of Nokia Siemens Networks, effective today.

The full-time role will have Ovesen work with Nokia Siemens Networks CEO Rajeev Suri and his management team to oversee the strategic direction of Nokia Siemens Networks as it seeks to strengthen its position as a leader in the industry and become a more independent entity. 

Ovesen (54) has held a number of senior management positions in leading European companies, most recently that of CFO at Danish telecommunications group TDC during the company’s restructuring process and Initial Public Offering.

“We are delighted to welcome Jesper to his new role,” said Nokia CEO Stephen Elop and Siemens CFO Joe Kaeser. “With a strong track record in change management, Jesper is an excellent addition to the Nokia Siemens Networks team. As executive chairman, he will also be responsible for strategy oversight as Nokia Siemens Networks transitions towards a strong standalone entity.”

Ovesen said he’s delighted to be joining the Nokia Siemens Networks team.

“Nokia Siemens Networks is an innovation leader in the industry and I look forward to supporting the company as it forges ahead in its path to sustainable long-term leadership and profitability,” Ovesen said.

Olli-Pekka Kallasvuo, who has served as non-executive chairman, has elected to step down from his position as serving in a full-time capacity was not possible.

“We would both like to extend our sincere thanks to Olli-Pekka for his contribution and dedication to Nokia Siemens Networks,” said Elop and Kaeser.

Nokia and Siemens to provide capital of €500m each

Nokia and Siemens today also announced they are each providing capital of €500m to Nokia Siemens Networks to further strengthen the company’s financial position and set the stage for strategic flexibility, productivity and innovation in areas such as mobile broadband and related services.