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Nokia may announce new CEO soon. Q4 results to show D & S as discontinued operations

If report from Bloomberg has to believed, Nokia may already be near picking new CEO for heading the ‘new Nokia’. Nokia is inclined to pick an insider this time and most popular candidate names include NSN CEO Rajeev Suri and Nokia CFO Timo Ihamuotila. NSN CEO Rajeev Suri is one of the applicants of the job as per Bloomberg’s sources.

Suri, the head of Nokia’s network-equipment unit, is among applicants for the job, said the people, asking not to be named because the discussions are confidential. Finance Chief Timo Ihamuotila has also been considered, said one of the people.

Though Nokia has also considered external candidates and the announcement of CEO will come once the D&S division deal gets finalized in this quarter. Approval in some countries like China is still pending.

Nokia, based in Espoo, Finland, has also considered external candidates, the people said. The company is more likely to name a new CEO after completing the phone-division sale, they said. Microsoft and Nokia have said they expect to complete the deal this quarter, and are waiting for regulatory approval from countries including China.

nokia logo NPU

Nokia will publish its fourth quarter and full year 2013 results on 23rd of January, 1pm Finnish time (CET+1). The results will be available immediately on Nokia site.

Q4 results link

Analyst event webcast link

The report structure has changed taking the D&S deal approval by shareholders into account and Nokia will report D&S division as “discontinued operation” in Q4 and 2013 results.

After receiving shareholder approval of the pending sale of substantially all of its Devices & Services business at our Extraordinary General Meeting in November last year, Nokia is reporting substantially all of its Devices & Services business as discontinued operations in its fourth quarter 2013 and full year 2013 results report.

Nokia currently has three continuing businesses: Nokia Solutions & Networks (NSN), HERE and Advanced Technologies. Reflecting this composition, Nokia will publish financial information for all three businesses in next week’s report. Specifically, Nokia will report financial information for a total of four reportable segments – Mobile Broadband and Global Services within NSN, HERE, and Advanced Technologies – and, additionally, separate information for Discontinued Operations.

Nokia also plans to publish a stock exchange release which will feature certain historical results reflecting the new reporting structure for comparison sake. Nokia intends to provide this information at least 24 hours before the results announcement.

Source: Bloomberg   Nokia

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Nayan
Nayan has more than 10 years of experience of covering Technology and innovations. He is a big Nokia fan and Tech disruptions aficionado. He loves to review new cool gadgets and writing about Android, iOS, Gadgets and general Technology stuff. He has been associated with other well-known Tech sites WinCentral and GadgetOx since long. He currently sports a Lumia 950 XL and Nexus 5X. Other interests include listening to Nu-Metal Hits and Kick-Boxing. Write to him at Email: [email protected]
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