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Nokia and Siemens have announced the appointment of Mr Jesper Ovesen as the Executive Chairman of the Board of Nokia Siemens Networks.
Mr Ovesen 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. He will work closely with Nokia Siemens Networks CEO, Mr Rajeev Suri, and his management team in that capacity, a release from Siemens AG said.
Mr Ovesen was till recently the Chief Financial Officer in the Danish telecommunications group TDC during its restructuring process and Initial Public Offering.
Mr Olli-Pekka Kallasvuo, who was Non-Executive Chairman, decided to step down as serving in a full time capacity was not possible, said Mr Stephen Elop, Chief Executive Officer, Nokia, and Mr Joe Kaeser, Chief Financial Officer, Siemens.
EURO ONE BILLION
Nokia and Siemens also said that each would provide a capital of euro 500 million to Nokia Siemens Networks to strengthen the company’s financial position and set the stage for strategic flexibility, productivity and innovation in areas such as mobile broadband and related services, the release added.
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