Rajeev Suri Has More Chances To Become CEO Of Nokia (NOK)

According to Helsingin Sanomat newspaper, the head of Nokia Corporation (ADR) (NYSE:NOK)’s telecoms network equipment division, Rajeev Suri, is considered to be the most suitable applicant to replace Stephen Elop who is going to join Microsoft Corporation (NASDAQ:MSFT) when the 5.4 billion euro ($7.5 billion) handset deal is finalized. In recent years, Indian-born Suri has assisted Nokia Solutions and Networks (NSN), the network equipment division, in generating more revenue with his sweeping reformation policy and by trenching unsuccessful trading so he has been broadly considered as the most deserving applicant for this job.

A newspaper reported that according to some sources inside of business deal said yesterday that there are more chances he will be heading as CEO of the Finnish company after the sale of its handset division to the Microsoft. The report also showed that it is expected that by the end of March, both companies will finalize their agreement and a new chief executive of the company will be selected by the board of Nokia.

In recent times, fourth-quarter sales of NSN are reported that declined 22% from previous year and increased worries about its profitable prospects. When the handset agreement will close, about 90% of Nokia’s sales will come from NSN which was initially a joint venture of Nokia and Siemens. According to spokeswoman Maija Taimi, they will consider different prospects about Nokia’s organization, policy and management around the concluding of the pending deal.

However, the Finnish Company showed reluctance on commenting on mater of CEO selection procedure though the company has been for the time being headed by chief financial officer Timo Ihamuotila since last autumn.