Pekka Lundmark

Last updated

Pekka Lundmark
High-level Conference on Energy 'Europe's Future Electricity Market' Pekka Lundmark (36489617004).jpg
Lundmark in 2017
Born (1963-12-09) 9 December 1963 (age 61)
Espoo, Uusimaa, Finland
Education Helsinki University of Technology (MSc)
OccupationBusiness executive
Employer(s)Nokia (1990–2000, 2020–present)
Fortum (2015–2020)
Konecranes (2004–2015)
Hackman (2002–2004)
Startupfactory (2000–2002)
TitlePresident and CEO, Nokia

Pekka Lundmark (born 9 December 1963) is a Finnish business executive, and the president and CEO of Nokia. Previously, he was CEO of Fortum, a Finnish state-owned energy company, from 2015 to July 2020.

Contents

Early life and education

Lundmark was born on 9 December 1963 in Espoo, Finland. He graduated from the Helsinki University of Technology with a master's degree in applied physics in 1988. [1] [2]

Career

Lundmark began his career with Nokia in 1990, where he held various executive positions. He left Nokia in 2000, and joined Startupfactory Oy as a managing partner from 2000 to 2002, followed by a stint as President and CEO of Hackman, a Finnish cutlery and cookware company, from 2002 to 2004. Lundmark then joined Konecranes, a Finnish company specialising in lifting equipment, as the Group Executive Vice President in 2004, and became the President and CEO of the company in 2005, serving until 2015, when he joined Fortum as the President and CEO. [1] [3]

On 2 March 2020, Nokia’s board of directors announced that Lundmark would be the new President and Chief Executive Officer of Nokia. Lundmark was expected to leave Fortum on 31 August 2020, and join Nokia on 1 September 2020. He succeeded Rajeev Suri, who had served as President and CEO of Nokia since 2014. Suri will remain as an adviser on the board for the first year after stepping down. [1] [4] [5] [6] [7] Nokia praised Lundmark's record at Fortum, saying that he had "consistently delivered robust total shareholder returns, successfully renewed the company's strategy, and positioned it to be a strong player in the transforming global energy sector." [8]

In June, it was announced that Lundmark would join Nokia on 1 August 2020, one month earlier than planned. [9] The announcement came after Fortum said its chief financial officer, Markus Rauramo, would be taking over as Fortum’s CEO from 1 July. [10]

Lundmark has served on the boards of various industry organizations in Finland, including as Chairman of the Board of Finland’s Technology Industry Association ( Finnish : Teknologiateollisuus  [ fi ]) in 2011. [11] Most recently, he served as the 2019 and 2020 Chairman of the Board of the Confederation of Finnish Industries (EK; Finnish: Elinkeinoelämän Keskusliitto; Swedish: Finlands Näringsliv), the largest employers' organization in Finland. During his tenure at EK, he prioritized partnering with the EU to find solutions to curb climate change and increasing the employment rate. [12]

Other activities

Personal life

Lundmark is married, and has three children. [1]

Related Research Articles

<span class="mw-page-title-main">Nokia</span> Finnish multinational corporation

Nokia Corporation is a Finnish multinational telecommunications, information technology, and consumer electronics corporation, originally established as a pulp mill in 1865. Nokia's main headquarters are in Espoo, Finland, in the Helsinki metropolitan area, but the company's actual roots are in the Tampere region of Pirkanmaa. In 2020, Nokia employed approximately 92,000 people across over 100 countries, did business in more than 130 countries, and reported annual revenues of around €23 billion. Nokia is a public limited company listed on the Nasdaq Helsinki and New York Stock Exchange. It was the world's 415th-largest company measured by 2016 revenues, according to the Fortune Global 500, having peaked at 85th place in 2009. It is a component of the Euro Stoxx 50 stock market index.

<span class="mw-page-title-main">Jorma Ollila</span> Finnish businessman

Jorma Jaakko Ollila is a Finnish businessman who was chairman of Royal Dutch Shell from 1 June 2006 to May 2015, and at Nokia Corporation chairman from 1999 to 2012 and CEO from 1992 to 2006. He has been a director of Otava Books and Magazines Group Ltd. since 1996 and UPM-Kymmene since 1997, and an advisory partner at Perella Weinberg Partners, a New York–based boutique investment bank founded by Joseph R. Perella and Peter Weinberg in 2006.

<span class="mw-page-title-main">Ville Niinistö</span> Finnish politician (born 1976)

Ville Matti Niinistö is a Finnish politician who has been serving as a Member of the European Parliament since 2019. He is a former member of parliament, former chairperson of the Green League and served as Minister of the Environment from 2011 to 2014, and a member of the city council of Turku.

<span class="mw-page-title-main">Olli-Pekka Kallasvuo</span>

Olli-Pekka Kallasvuo is the current Chairman of the Board of Cinia Oy chaired the committee for World Design Capital Helsinki 2012, and is the former chairman, chief executive officer and president of Nokia, as well as a former board member of Nokia Siemens Networks.

<span class="mw-page-title-main">Neste</span> Finnish oil company

Neste Oyj is an oil refining and marketing company located in Espoo, Finland. It produces, refines and markets oil products, provides engineering services, and licenses production technologies. Neste has operations in 14 countries.

Nokia Networks is a multinational data networking and telecommunications equipment company headquartered in Espoo, Finland, and wholly owned subsidiary of Nokia Corporation. It started as a joint venture between Nokia of Finland and Siemens of Germany known as Nokia Siemens Networks.

Gasum Oy is a Finnish state-owned energy company operating in the Nordics. Gasum owns 18 biogas refineries in Finland, Sweden and Denmark, and is the largest processor of biodegradable waste in the Nordic countries. In addition, Gasum sells wind power and provides various energy market services. It is in the process of building a gas filling station network that will also serve heavy-duty vehicles.

Sari Maritta Baldauf is a Finnish businesswoman who is chairwoman of the board of directors of Nokia. She joined the board in 2018 and became vice chair in 2019, before she succeeded Risto Siilasmaa as chairwoman in 2020. Until 2005, she was head of Nokia's Networks Business Group.

<span class="mw-page-title-main">Matti Alahuhta</span> Finnish business executive

Matti Juhani Alahuhta was the President & CEO of KONE Corporation (2005–2014). Earlier he worked 26 years at Nokia Corporation and was Member of Nokia's Executive Board from 1993 to 2004. He is Chairman of the Board of DevCo Partners Oy. He is also Member of the Board of Directors of Kone Corporation (2003-) and AB Volvo (2014-).

<span class="mw-page-title-main">Marko Ahtisaari</span> Finnish technology entrepreneur and musician

Marko Ahtisaari is a Finnish technology entrepreneur and musician. Ahtisaari has been CEO and co-founder of two technology companies: Dopplr and Sync Project. After the acquisition of Dopplr, Ahtisaari was executive vice president of Design at Nokia and later a Director's Fellow at the MIT Media Lab. He is a composer, bassist and singer in the band Construction.

Simon Beresford-Wylie is the CEO of Imagination Technologies, a UK based supplier of semiconductor intellectual property. Before joining Imagination technologies in October 2020, Beresford Wylie was the CEO of Arqiva. Prior to joining Arqiva in 2015, he was Global Executive Advisor and Executive Vice President to the networks business unit of Samsung Electronics. He was the former president and CEO of Nokia Siemens Networks and a member of the group executive board of Nokia Corporation from February 2005 to October 2009. He was a member of the board of directors of the Vitec Group from 1 March 2006 until 30 November 2013.

<span class="mw-page-title-main">Risto Siilasmaa</span> Finnish businessperson

Risto Kalevi Siilasmaa is a Finnish businessperson and the chairman, founder and former CEO of F-Secure Corporation, an anti-virus and computer security software company based in Helsinki, Finland. He is also the biggest shareholder of F-Secure, owning around 40% of the company. He was chairman of Nokia from 2012 to 2020.

<span class="mw-page-title-main">Carl Haglund</span> Finnish politician

Carl Christoffer "Calle" Haglund is the CEO of Veritas, a Finnish Pension insurance company, former MP, former chairman of the Swedish People's Party and the former Minister of Defence. He was member of the European Parliament (MEP) from 2009 to 2012. Haglund was elected chairman of his party in June 2012. Haglund serves as the chairman of the board for Finnish Business and Policy Forum EVA and Research Institute of the Finnish Economy Etla. Haglund also currently serves on the board of Aktia Bank Plc and Enersense International Plc.

<span class="mw-page-title-main">Stephen Elop</span> Canadian businessman

Stephen Elop is a Canadian businessman who most recently worked at Australian telecom company Telstra from April 2016. In the past he had worked for Nokia as its first non-Finnish CEO and later as Executive Vice President, Devices & Services, as well as the head of the Microsoft Business Division, as the COO of Juniper Networks, as the president of worldwide field operations at Adobe Systems, in several senior positions in Macromedia and as the CIO at Boston Chicken.

<span class="mw-page-title-main">Rajeev Suri</span> Singaporean business executive (born 1967)

Rajeev Suri is an Indian born Singaporean business executive. He has been the CEO of Inmarsat since February 2021. From April 2014 to July 2020, Suri was the CEO of Nokia. Before being appointed to this position, he was the CEO of Nokia Solutions and Networks. Suri has held various positions within Nokia since 1995.

Talouselämä is a Finnish language weekly financial and business magazine published in Helsinki, Finland. It has been in circulation since 1938.

<span class="mw-page-title-main">HMD Global</span> Finnish manufacturer of Nokia mobile phones, smartphones and tablets

Human Mobile Devices (HMD), formally HMD Global, is a Finnish independent mobile phone manufacturer. The company is owned by the Luxembourgish holding company Smart Connect GL. The company is made up of the mobile phone business that the Nokia Corporation sold to Microsoft in 2014, then bought back in 2016. HMD began marketing Nokia-branded smartphones and feature phones on 1 December 2016. The company has exclusive rights to the Nokia brand for mobile phones through a licensing agreement. The HMD brand was initially only used for corporate purposes and does not appear in advertising, whereas the name "Nokia Mobile" is used on social media. In January 2024, HMD rebranded to 'Human Mobile Devices' and will use its branding on future devices alongside that of Nokia.

<span class="mw-page-title-main">Katri Kulmuni</span> Finnish politician

Katri Briitta Ilona Kulmuni is a Finnish politician who served as the 35th deputy prime minister of Finland and the leader of the Centre Party between 2019 and 2020. A member of the Centre Party, she was a Member of Parliament from 2015 to 2024. In the 2024 European Parliament election, she was elected to the European Parliament.

<span class="mw-page-title-main">Katja Keitaanniemi</span> Finnish business executive

Katja Keitaanniemi is the CEO of OP Corporate Bank, which is the most significant subsidiary of OP Financial Group. According to Corporate Finance Institute, OP Corporate Bank is among the top corporate banks in Finland. Keitaanniemi has been on the list of Finland's most powerful female executives by the business weekly Talouselämä in 2020, 2021, 2022 and 2023.

References

  1. 1 2 3 4 "Pekka Lundmark appointed President and CEO of Nokia; Rajeev Suri to step down after more than a decade as President and CEO of Nokia and Nokia Siemens Networks" (Press release). Nokia Corporation. 2 March 2020. Retrieved 9 June 2020.
  2. ↑ Hallikainen, Raija (24 November 2005). "Pekka Lundmark on nostoväen nokkamies". Tekniikka & Talous (in Finnish). Retrieved 27 July 2020.
  3. ↑ "Pekka Lundmark nimitetty Fortumin uudeksi toimitusjohtajaksi" [Pekka Lundmark appointed new President and CEO of Fortum] (Press release) (in Finnish). Fortum . Retrieved 10 June 2020.
  4. ↑ "Nokia appoints Pekka Lundmark as CEO from September 1". The Hindu Business Line. 2 March 2020. Retrieved 9 June 2020.
  5. ↑ Peterson, Andrea (2 March 2020). "Meet Nokia's new boss". Protocol. Retrieved 10 June 2020.
  6. ↑ "President and CEO Pekka Lundmark to leave Fortum" (Press release). Fortum. 2 March 2020. Retrieved 11 June 2020.
  7. ↑ Kauranen, Anne (2 March 2020). "Nokia replaces CEO with Fortum boss Lundmark to revive 5G business". Reuters . Retrieved 11 June 2020.
  8. ↑ Toh, Michelle (2 March 2020). "Nokia names new CEO after missing 5G opportunity". CNN Business . Retrieved 11 June 2020.
  9. ↑ "Pekka Lundmark to start as President and CEO of Nokia on August 1, 2020" (Press release). Nokia Corporation. 24 June 2020. Retrieved 26 June 2020.
  10. ↑ Kauranen, Anne (24 June 2020). Neely, Jason (ed.). "New Nokia CEO Lundmark to take over a month earlier than planned". U.S. News & World Report . Retrieved 26 June 2020.
  11. ↑ Seppälä, Jarmo (3 December 2010). "Pekka Lundmark Teknologiateollisuuden puheenjohtajaksi" [Pekka Lundmark appointed Chairman of the Technology Industry Association]. Tekniikka & Talous (in Finnish). Retrieved 27 July 2020.
  12. ↑ "Pekka Lundmark on valittu EK:n hallituksen uudeksi puheenjohtajaksi vuodelle 2019" [Pekka Lundmark has been elected the new Chairman of the Board of EK for 2019] (Press release) (in Finnish). EK. 21 November 2018. Retrieved 27 July 2020.
  13. ↑ Members European Round Table of Industrialists.
Business positions
Preceded by Nokia Corporation CEO
2020–present		Succeeded by
Incumbent
Preceded by
Timo Karttinen
as interim CEO 		CEO of Fortum
2015–2020		Succeeded by
Markus Rauramo
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.