The news comes after Nokia and Siemens AG (SI) said Thursday they would each inject EUR500 million into their telecommunications equipment joint venture and appoint Jesper Ovesen as the company's new 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.
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