Nokia denies plans to replace CEO Pekka Lundmark, despite a 32% drop in Q2 operating profit.

Nokia has denied a Financial Times report suggesting it plans to replace CEO Pekka Lundmark, affirming that the Board fully supports him. The company clarified it engages in routine succession planning but is not currently seeking a new CEO. Despite a 32% drop in second-quarter operating profit due to weak 5G demand, Nokia anticipates a sales recovery by late 2024, particularly from North America.

September 12, 2024
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