Nokia and Siemens announced Jesper Ovesen as the new Executive Chairman of the Board of Nokia Siemens Networks as Olli-Pekka Kallasvuo, who was Non-Executive Chairman, decided to step down as he was not able to serve full time, said Mr Stephen Elop, Chief Executive Officer, Nokia, and Mr Joe Kaeser, Chief Financial Officer, Siemens.
Jesper assumes a full-time role with a special emphasis on strengthening its position as a leader in the industry and become a more independent entity and is to work closely with Nokia Siemens Networks CEO, Mr Rajeev Suri, and his management team in that capacity, a release from Siemens AG said.
The two companies also announced each would provide a capital of euro 500 million to Nokia Siemens Networks to strengthen the companys financial position.
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