BREAKING NEWS

Nokia operations chief to leave in management reshuffle

Text size Aa Aa

(Reuters) – Finnish telecoms gear maker Nokia <NOKIA.HE> has decided to split the chief operating officer’s functions among other leaders, it said on Monday, leaving company veteran Joerg Erlemeier without a job.

Erlemeier, who has has been with the company for 25 years and served as chief operations officer for the past two years, was responsible for global operations and procurement, the overall operating model and implementation of cost savings, among other functions.

Last month Nokia cut its outlook for this year and next because of the need to step up investment in 5G, sending its share price down by a third.

It also suspended dividend payments to conserve cash and pledged to speed the introduction of new 5G chipsets.

(Reporting by Tarmo Virki; Editing by David Goodman)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.
Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.