Fortum Corporation’s President and CEO Pekka Lundmark has informed the board directors that he will leave the company to take on a President and CEO position in Nokia.
Lundmark will leave the firm at the end of August 2020 and step into the shoes of Rajiv Suri who is current serving as Nokia’s President and CEO.
The Board of Directors immediately initiates a recruitment process for his successor. Further details will be announced in due course.
“I sincerely thank Pekka for the great work he has done to transform Fortum over the past four and a half years. During this time, Fortum has determinedly executed a strategy that drives the change for a cleaner world. Fortum has grown in CO2-free energy and circular economy and is the largest electricity retail company in the Nordics. Further, Fortum is well on its way to become one of Europe’s largest energy companies through its investment in Uniper. At the same time, the group’s financial performance has clearly improved and Fortum achieved its long-term financial targets, delivering consistent value to its shareholders and all stakeholders,” said Matti Lievonen, Chairman of the Board of Directors.
“I leave Fortum with a heavy heart as the company and the whole European energy market are at an extremely interesting point. However, the opportunity that I was offered was too attractive to pass. I want to thank Fortum’s Board of Directors for their trust, and my team and all Fortum employees – together we have achieved so much. Fortum is now well positioned to drive forward the European energy transition. I know this work will continue relentlessly also in the future,” said Pekka Lundmark.