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Nokia Names India-Born Rajeev Suri As New CEO Post Posted: Tue Apr 29, 2014 12:40 pm 
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On Tuesday Finnish telecommunications gear maker Nokia company said that the new chief executive of the company will be Rajeev Suri, an Indian- born.

Suri, 46, now led Nokia Solutions and Networks (NSN), the smaller network equipment unit of Nokia when the company still made mobile phones and he turned the unit around by contributing 12.7 billion euro (USD 17.58 billion)turnover Nokia made from its continuing operations last year.

Nokia Chairman Risto Siilasmaa said in a statement, "Rajeev is the right person to lead the company forward and He has a proven ability to create strategic clarity, drive innovation and growth, ensure disciplined execution, and deliver results."

Last year, the NSN unit`s sales were 11.3 billion euros, while navigation unit HERE accounted for 914 million euros and its patent unit, dubbed advance technologies, 529 million euros.

On Friday, Nokia finalised the around 5.4 billion euro (USD 7.5 billion) sale of its struggling mobile phone business to Microsoft and they planning to focus on the networks, navigation and patents.

The network unit was long in the red, but turned profitable in 2012 after Suri slashed costs and shed unprofitable business.

Moreover, the company also said it would pay stakeholders an extra 0.26 euros (USD 0.36) per share on top of the annual dividend of 0.11 euros for last year. The extra dividend amounts to around 1 billion euros total, and the ordinary dividend will cost another 400 million.

Also,Nokia planned to give at least 0.11 euros as dividend for 2014 and start a 1.25-billion-euro share repurchase programme, and reduce debt by 2 billion.

 
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