Jesper Ovesen to leave Nokia’s networking equipment unit when Microsoft acquisition is completed in first quarter of 2014
The executive chairman of Nokia Solutions and Networks (NSN), Jesper Ovesen, is set to leave his position following the sale of Nokia’s mobile phone business to Microsoft.
Ovesen joined NSN – Nokia’s telecoms infrastructure arm which was originally a 2007 joint venture between Nokia and Siemens – in September 2011. The unit has been fully-owned by Nokia since August 2013 when it acquired Siemens’ 50 per cent stake for £1.46 billion.
Ovesen will step down from his role after Nokia’s sale of its devices and services business to Microsoft closes, which is due to take place in the first quarter of 2014. Ovesen, who was previously CFO of Danish telecommunications group TDC during the company’s restructuring process and initial public offering, will continue to serve in an advisory role for an undefined period after the deal is complete while a new management structure is implemented.
Microsoft’s acquisition deal was given approval by both the European Commission and the US Department of Justice in December, after Nokia shareholders gave the deal the green light in an extraordinary general meeting held in Helsinki in November.
Nokia chairman and interim CEO Risto Siilasmaa said that Ovesen’s “restructuring and change management expertise” played a crucial role during NSN’s restructuring process to focus on mobile broadband equipment towards the end of 2011.