Nokia to Eliminate Chief Operating Officer Post
November 25 2019 - 11:18AM
Dow Jones News
By Colin Kellaher
Nokia Corp. (NOK) on Monday said it is eliminating the role of
chief operating officer and distributing the duties among other
members of its leadership team.
The Espoo, Finland, telecom-equipment maker said Joerg
Erlemeier, who currently serves as chief operating officer, is
stepping down and will leave the company on Jan. 1.
Mr. Erlemeier, who joined Nokia in 1994, was named chief
operating officer in 2017.
Nokia late last month cut profit guidance for this year and
next, and halted its dividend to cover the growing costs of rolling
out equipment for 5G mobile networks.
"While the company is in the midst of a transition, I leave firm
in my belief that the right plan is in place to improve future
performance," Mr. Erlemeier said.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 25, 2019 12:03 ET (17:03 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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