Nokia named a new CFO as it prepares for Pekka Lundmark, head of energy company Fortum, to take over from Rajeev Suri as president and CEO on 1 September.

Marco Wiren, president of Wartsila Energy (pictured), will replace current CFO Kristian Pullola and will be a member of the group leadership team, based at the company’s headquarters in Espoo, Finland. Wiren will start on the same day as Lundmark.

In a statement, Suri said: “I am pleased Marco will be joining us to take the reins of Nokia along with our future CEO…I initiated the succession planning with the board’s support and, as Nokia’s next CEO, Pekka led the effort to its completion with the selection of Marco”.

Lundmark said Wiren, who is also an EVP at Finnish engineering company Wartsila Group, has deep financial and leadership experience, a sharp focus on driving operational excellence and a demonstrated record of success.

Wiren held a number of CFO and other senior financial roles with companies including SSAB Group and Eltel Networks.

Period of change
The appointment comes during a period of significant disruption for the vendor.

At the end of May, Sari Baldauf took the reins as Nokia’s new chair, replacing Risto Siilasmaa who held the post for eight years. In April, the Finnish company missed out on two huge 5G tenders in China and faced speculation regarding a hostile takeover bid.

Suri had previously warned of challenges for the majority of 2020.