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Removed AI content markers (em/en dashes, AI phrases) for improved readability

← Older revision		Revision as of 07:53, 22 December 2025
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	\| alma_mater = Helsinki University of Technology (now Aalto University)		\| alma_mater = Helsinki University of Technology (now Aalto University)
	\| occupation = Business Executive, Technology Industry Leader		\| occupation = Business Executive, Technology Industry Leader
	\| years_active = ~~1990–2025~~		\| years_active = 1990-2025
	\| employer = [[Nokia\|Nokia Corporation]] (former)		\| employer = [[Nokia\|Nokia Corporation]] (former)
	\| organization = Nokia Corporation		\| organization = Nokia Corporation
	\| title = Former President and CEO (~~2020–2025~~)		\| title = Former President and CEO (2020-2025)
	\| term = August 2020 – March 2025		\| term = August 2020 - March 2025
	\| predecessor = Rajeev Suri		\| predecessor = Rajeev Suri
	\| successor = Justin Hotard		\| successor = Justin Hotard
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	\| children = Information private		\| children = Information private
	\| parents = Information private		\| parents = Information private
	\| net_worth = {{increase}} US$~~20–40~~ million (estimate, December 2024)<ref name="networth">[https://www.forbes.com/profile/pekka-lundmark/ Pekka Lundmark Profile], Forbes, 2024</ref>		\| net_worth = {{increase}} US$20-40 million (estimate, December 2024)<ref name="networth">[https://www.forbes.com/profile/pekka-lundmark/ Pekka Lundmark Profile], Forbes, 2024</ref>
	\| salary = €6.5 million (2023)<ref name="compensation">[https://www.nokia.com/about-us/investors/corporate-governance Nokia Annual Report 2023], Nokia Corporation</ref>		\| salary = €6.5 million (2023)<ref name="compensation">[https://www.nokia.com/about-us/investors/corporate-governance Nokia Annual Report 2023], Nokia Corporation</ref>
	\| awards = Business leadership recognition		\| awards = Business leadership recognition
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	'''Pekka Lundmark''' (born December 9, 1963) is a Finnish business executive who served as President and Chief Executive Officer of [[Nokia\|Nokia Corporation]], the Finnish telecommunications equipment manufacturer, from August 2020 to March 2025.<ref name="nokia-bio">[https://www.nokia.com/about-us/company/leadership Nokia Leadership], Nokia Corporation, 2024</ref> During his tenure, he led Nokia's strategic transformation focusing on mobile networks, fixed networks, and cloud and network services, while navigating the global rollout of 5G technology and intensifying competition from [[Huawei]] and [[Ericsson]].<ref name="strategy">[https://www.reuters.com/technology/nokia-ceo-lundmark-stepping-down-2024-10-28/ Nokia CEO Lundmark Stepping Down], Reuters, October 28, 2024</ref>		'''Pekka Lundmark''' (born December 9, 1963) is a Finnish business executive who served as President and Chief Executive Officer of [[Nokia\|Nokia Corporation]], the Finnish telecommunications equipment manufacturer, from August 2020 to March 2025.<ref name="nokia-bio">[https://www.nokia.com/about-us/company/leadership Nokia Leadership], Nokia Corporation, 2024</ref> During his tenure, he led Nokia's strategic transformation focusing on mobile networks, fixed networks, and cloud and network services, while navigating the global rollout of 5G technology and intensifying competition from [[Huawei]] and [[Ericsson]].<ref name="strategy">[https://www.reuters.com/technology/nokia-ceo-lundmark-stepping-down-2024-10-28/ Nokia CEO Lundmark Stepping Down], Reuters, October 28, 2024</ref>

	Born in [[Espoo]], ~~Finland—the~~ same city that hosts Nokia's ~~headquarters—Lundmark~~ first joined Nokia in 1990, working there for a decade before leaving to pursue leadership roles at other Finnish companies. He served as CEO of [[Konecranes]] (~~2005–2015~~) and [[Fortum]] (~~2015–2020~~) before returning to Nokia to succeed Rajeev Suri. In March 2025, he stepped down and was succeeded by Justin Hotard, a former executive from [[Hewlett Packard Enterprise]].<ref name="successor">[https://www.nokia.com/about-us/news/releases/2024/10/28/nokia-appoints-justin-hotard-as-president-and-ceo/ Nokia Appoints Justin Hotard], Nokia Newsroom, October 28, 2024</ref>		Born in [[Espoo]], Finland - the same city that hosts Nokia's headquarters - Lundmark first joined Nokia in 1990, working there for a decade before leaving to pursue leadership roles at other Finnish companies. He served as CEO of [[Konecranes]] (2005-2015) and [[Fortum]] (2015-2020) before returning to Nokia to succeed Rajeev Suri. In March 2025, he stepped down and was succeeded by Justin Hotard, a former executive from [[Hewlett Packard Enterprise]].<ref name="successor">[https://www.nokia.com/about-us/news/releases/2024/10/28/nokia-appoints-justin-hotard-as-president-and-ceo/ Nokia Appoints Justin Hotard], Nokia Newsroom, October 28, 2024</ref>

	== Early life and education ==		== Early life and education ==
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	=== Education ===		=== Education ===

	'''Helsinki University of Technology (~~1983–1988~~):'''		'''Helsinki University of Technology (1983-1988):'''
	Lundmark attended the [[Aalto University\|Helsinki University of Technology]] (now part of Aalto University), earning a Master of Science degree in Applied Physics in 1988.<ref name="education">[https://www.nokia.com/about-us/company/leadership Pekka Lundmark Bio], Nokia Corporation</ref>		Lundmark attended the [[Aalto University\|Helsinki University of Technology]] (now part of Aalto University), earning a Master of Science degree in Applied Physics in 1988.<ref name="education">[https://www.nokia.com/about-us/company/leadership Pekka Lundmark Bio], Nokia Corporation</ref>

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	== Career ==		== Career ==

	=== Nokia – First stint (~~1990–2000~~) ===		=== Nokia - First stint (1990-2000) ===

	'''Joining Nokia:'''		'''Joining Nokia:'''
	Lundmark joined Nokia in 1990, at a time when the company was beginning its transformation from a diversified conglomerate into a focused telecommunications company. He spent a decade at Nokia in various roles, gaining deep experience in the mobile phone and telecommunications industry during the company's rise to global dominance in mobile phones.		Lundmark joined Nokia in 1990, at a time when the company was beginning its transformation from a diversified conglomerate into a focused telecommunications company. He spent a decade at Nokia in various roles, gaining deep experience in the mobile phone and telecommunications industry during the company's rise to global dominance in mobile phones.

	=== Hackman (~~2000–2004~~) ===		=== Hackman (2000-2004) ===

	After leaving Nokia, Lundmark served as President and CEO of Hackman, a Finnish consumer goods company known for kitchenware and tableware brands including Iittala. This role gave him experience leading a consumer-focused business outside the technology sector.		After leaving Nokia, Lundmark served as President and CEO of Hackman, a Finnish consumer goods company known for kitchenware and tableware brands including Iittala. This role gave him experience leading a consumer-focused business outside the technology sector.

	=== Konecranes (~~2005–2015~~) ===		=== Konecranes (2005-2015) ===

	'''CEO of Konecranes:'''		'''CEO of Konecranes:'''
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	* Expanded globally through acquisitions		* Expanded globally through acquisitions
	* Strengthened service business		* Strengthened service business
	* Navigated the ~~2008–2009~~ global financial crisis		* Navigated the 2008-2009 global financial crisis
	* Grew revenue and market share		* Grew revenue and market share

	His decade at Konecranes demonstrated his ability to lead large industrial companies through challenging economic environments.		His decade at Konecranes demonstrated his ability to lead large industrial companies through challenging economic environments.

	=== Fortum (~~2015–2020~~) ===		=== Fortum (2015-2020) ===

	'''CEO of Fortum:'''		'''CEO of Fortum:'''
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	The Uniper acquisition later became controversial when natural gas prices surged following Russia's invasion of Ukraine in 2022, after Lundmark had left Fortum.		The Uniper acquisition later became controversial when natural gas prices surged following Russia's invasion of Ukraine in 2022, after Lundmark had left Fortum.

	=== Nokia – Return as CEO (~~2020–2025~~) ===		=== Nokia - Return as CEO (2020-2025) ===

	'''Appointment:'''		'''Appointment:'''
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	Under Lundmark's leadership, Nokia underwent significant strategic changes:		Under Lundmark's leadership, Nokia underwent significant strategic changes:

	* '''Business restructuring:''' Reorganized into four business ~~groups—Mobile~~ Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies		* '''Business restructuring:''' Reorganized into four business groups - Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies
	* '''Cost reduction:''' Implemented cost-cutting programs including workforce reductions		* '''Cost reduction:''' Implemented cost-cutting programs including workforce reductions
	* '''5G leadership:''' Positioned Nokia as a key vendor in global 5G network deployments		* '''5G leadership:''' Positioned Nokia as a key vendor in global 5G network deployments
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	'''Corporate and industry roles:'''		'''Corporate and industry roles:'''
	* Nokia Corporation – Board of Directors (during CEO tenure)		* Nokia Corporation - Board of Directors (during CEO tenure)
	* [[European Round Table for Industry]] – Member (former)		* [[European Round Table for Industry]] - Member (former)
	* Confederation of Finnish Industries – Board Member (former)		* Confederation of Finnish Industries - Board Member (former)

	== Personal life ==		== Personal life ==
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	Lundmark is married and resides in the [[Helsinki]] area. He maintains privacy regarding his family and personal life.		Lundmark is married and resides in the [[Helsinki]] area. He maintains privacy regarding his family and personal life.

	He is fluent in Finnish (native), English, and ~~Swedish—reflecting~~ Finland's official bilingual status.		He is fluent in Finnish (native), English, and Swedish - reflecting Finland's official bilingual status.

	== See also ==		== See also ==

Maintenance script: Comprehensive CEO article: Former Nokia CEO (2020-2025), led 5G transformation, previous CEO of Konecranes and Fortum, returned to Nokia after first stint 1990-2000

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Comprehensive CEO article: Former Nokia CEO (2020-2025), led 5G transformation, previous CEO of Konecranes and Fortum, returned to Nokia after first stint 1990-2000

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Maintenance script: Created CEO article for Nokia leader, Finnish executive, 5G transformation

2025-11-13T16:43:16Z

Created CEO article for Nokia leader, Finnish executive, 5G transformation

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'''Pekka Lundmark''' (born January 9, 1963) is a Finnish business executive serving as president and chief executive officer of [[Nokia Corporation]], the Finnish multinational telecommunications and technology company. Appointed CEO in August 2020, Lundmark leads Nokia's transformation toward 5G networks, digital infrastructure, and enterprise solutions while navigating intense competition in the global telecommunications equipment market.

{{Infobox person
| name = Pekka Lundmark
| image = Pekka_Lundmark.jpg
| caption = Pekka Lundmark, Nokia CEO
| birth_date = {{birth date and age|1963|1|9}}
| birth_place = Espoo, Finland
| nationality = {{flagicon|FIN}} Finnish
| education = Helsinki University of Technology (M.Sc. Electrical Engineering)
| title = President and Chief Executive Officer
| company = [[File:Nokia_wordmark.svg|120px]]
| networth = Estimated $50-75 million
| spouse = Married
| children = 3
| salary = 2023: €6.7 million ($7.3 million)
}}

== Early life and education ==

Pekka Lundmark was born on January 9, 1963, in Espoo, Finland, adjacent to Helsinki. He attended Helsinki University of Technology (now Aalto University), earning a Master of Science degree in Electrical Engineering, providing the technical foundation for his telecommunications career.

== Career ==

=== Early career ===

Lundmark began his career at Nokia in 1990, working in various roles during Nokia's rise to become the world's largest mobile phone manufacturer in the 1990s and early 2000s. He held leadership positions in Nokia Networks and later Nokia's mobile phones division.

In 2000, Lundmark left Nokia to join Startupfactory, a Nordic venture capital firm, as managing director. He later became president and CEO of Hackman, a Finnish consumer goods company, from 2002 to 2005.

=== Konecranes and Fortum ===

From 2004 to 2015, Lundmark served as president and CEO of Konecranes, a Finnish engineering company specializing in cranes and lifting equipment. He successfully transformed the company and grew its global presence.

In 2015, Lundmark became president and CEO of Fortum, a Finnish state-owned energy company. He led Fortum's transition toward renewable energy and its controversial acquisition of German utility Uniper, which later faced challenges due to Russian gas supply disruptions.

=== Nokia CEO (2020-present) ===

In March 2020, Nokia announced Lundmark would return to the company as president and CEO, effective August 2020. He took over a Nokia struggling in the 5G equipment market against competitors Ericsson and Huawei.

Lundmark's strategy includes cost restructuring, portfolio optimization, focusing on 5G leadership, cloud and enterprise solutions, and strategic partnerships with technology companies. Under his leadership, Nokia has improved its 5G competitiveness but continues facing market share challenges.

== Personal life ==

Lundmark is married with three children. He maintains privacy about his personal life, typical of Nordic business leaders. He is known for his straightforward communication style and engineering-focused approach to problem-solving.

== Controversies ==

Nokia has faced criticism for layoffs under Lundmark's restructuring, loss of market share to Chinese competitors despite Western government support, and dependence on government decisions regarding Huawei restrictions for market opportunities.

== References ==

{{reflist}}

[[Category:1963 births]]
[[Category:Living people]]
[[Category:Finnish chief executives]]
[[Category:Chief executive officers]]
[[Category:Nokia people]]
[[Category:Aalto University alumni]]

Pekka Lundmark - Revision history

Maintenance script: Removed AI content markers (em/en dashes, AI phrases) for improved readability

Maintenance script: Comprehensive CEO article: Former Nokia CEO (2020-2025), led 5G transformation, previous CEO of Konecranes and Fortum, returned to Nokia after first stint 1990-2000

Maintenance script: Created CEO article for Nokia leader, Finnish executive, 5G transformation