Telecoms equipment vendor Nokia, has appointed Marco Wirén as the new chief financial officer (CFO) and member of the group leadership team, replacing current CFO Kristian Pullola. Wirén will join Nokia on September 1, 2020.
“I am pleased that Marco will be joining us to take the reins of Nokia along with our future CEO, Pekka Lundmark,” said Rajeev Suri, Nokia president and CEO. “I initiated the succession planning with the Board’s support and, as Nokia’s next CEO, Pekka led the effort to its completion with the selection of Marco.”
“Marco has deep financial and leadership experience, a sharp focus on driving operational excellence, and a demonstrated record of success,” said Lundmark. “He also brings an extensive background in business-to-business and technology companies. I am looking forward to working closely with him and am fully confident he will be a terrific member of the Nokia team.”
Wirén, who will be based at the company’s headquarters in Finland, is currently president of Wärtsilä Energy and executive vice president of Wärtsilä Group, a global leader in smart technologies and lifecycle solutions for the marine and energy markets. Wirén has held a number of CFO and other senior financial roles, including CFO of Wärtsilä Group; CFO of SSAB Group, a global specialised steel company; and CFO of Eltel Networks, a provider of technical services to the electrical and telecommunications industries.
“Nokia is one of the world’s iconic global companies and I am excited to be joining as the 5G era gets fully underway,” said Wirén. “I have deep respect for the company and its culture and look forward to helping create value for shareholders and other stakeholders in the years to come.”
During his time at Wärtsilä, Wirén helped establish the company as a leader in energy storage, streamlined the portfolio to focus on primary value creation opportunities, improved cash performance, strengthened investment decision-making and expanded use of robotics and artificial intelligence.
He also currently serves as vice board chair of Neste, a €28bn market cap company that provides renewable energy solutions.
According to Nokia, Kristian Pullola, who has served as chief financial officer since January 2017, will step down as CFO and leave the group leadership team on August 31, 2020. He will remain with the company until around the end of the year to ensure a smooth transition. During his time at Nokia, Pullola played a key role in the transactions that transformed Nokia to a global player in telecommunications infrastructure, including the sale of the devices business to Microsoft and the acquisition of Alcatel-Lucent. He also led company-level performance management processes and helped reduce overall fixed costs substantially. Pullola transformed the finance function into a process-led business partner while enhancing productivity.
“Serving at Nokia has been a true honour,” said Pullola. “I am fully committed to working with Marco on a smooth transition and am confident that I leave Nokia on a path to continued future improvement. It has been a great journey and one that I will always cherish.”