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Rajeev Suri likely to lead Microsoft-owned Nokia

Posted: 29 Apr 2014     Print Version  Bookmark and Share

Keywords:Microsoft  Nokia  acquisition  manufacturing 

Microsoft has officially completed its purchase of Nokia for $7.5 billion. Also, word on the street is that Rajeev Suri, who currently serves as chief executive at Nokia Solutions and Networks, will likely be named the handset maker's next CEO.

"The acquisition of substantially all of the Nokia Devices and Services business by Microsoft has reached completion, following approval by Nokia shareholders and regulatory authorities," Nokia EVP Stephen Elop said in an open letter.

A number of senior executives—including Elop, Jo Harlow, Juha Putkiranta, Timo Toikkanen, and Chris Weber—are expected to transfer from Nokia to Microsoft. The deal will involve the transfer of 25,000 people to Microsoft, including 4,700 people in Finland and 18,300 employees directly involved in manufacturing, assembly, and packaging of products.

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Microsoft CEO Satya Nadella (left) and EVP of Nokia Devices & Services Group Stephen Elop share a moment together. (Source: Microsoft)

As announced previously, Microsoft will not acquire the factory in Masan, South Korea; and the factory in Chennai, India, will stay with Nokia due to the tax liens on Nokia's assets in India. (See related story here: Exit plan for Nokia's Chennai staff draws mixed response.)

While Nokia officials said talk of the new CEO was speculation, Reuters reported that 46-year-old Suri has "been widely considered the leading candidate" following his part in helping the network division, Nokia Solutions and Networks, return to profitability.

Microsoft will also pay $2.2 billion to license many of Nokia's patents on terms varying between four and 10 years. Microsoft is going to make available to Nokia up to $2 billion in funding options.

Nokia and Microsoft were not available for comment.

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