Network devices manufacturer Nokia has started the search for a new CEO, the newspaper reports Financial Times.
According to the magazine, the company has approached several candidates and hired a consultant for the job. According to the Financial Times, the CEO is to be replaced because the company’s turnover has decreased and the value of the stock has developed poorly.
Nokia denies the newspaper’s information.
“The board fully supports the CEO Pekka Lundmarkia and there is no ongoing process to replace him”, the statement of Nokia’s board states.
The statement emphasizes that the key tasks of each company’s board are to systematically and continuously evaluate and discuss the management team’s long-term succession plan, which covers internal and external candidates.
“Our CEO and chairman of the board are fully aware of and participating in this process,” the statement said.
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