Pekka Lundmark

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.

Pekka Lundmark
Lundmark in 2017
Born	(1963-12-09) 9 December 1963 (age 60) Espoo, Uusimaa, Finland
Education	Helsinki University of Technology (MSc)
Occupation	Business executive
Employer(s)	Nokia (1990–2000, 2020–present) Fortum (2015–2020) Konecranes (2004–2015) Hackman (2002–2004) Startupfactory (2000–2002)
Title	President and CEO, Nokia

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 August 31, 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

• European Round Table of Industrialists (ERT), Member^[13]

Personal life

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

References

1. "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 Rajeev Suri	Nokia Corporation CEO 2020–present	Succeeded by Incumbent
Preceded by Timo Karttinen as interim CEO	CEO of Fortum 2015–2020	Succeeded by Markus Rauramo