A supervisory board member of Siemens has indicated that the company is looking for a new CEO for its networking equipment joint venture, Nokia Siemens Networks.
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A Reuters report said that Sibylle Wenkel, who represents the IG metall trade union on the supervisory board of Siemens, had mentioned that the finance director of Siemens, Joe Kaeser, was conducting an executive search to find an alternative to current Nokia Siemens CEO Rajeev Suri.
A report carried by Dow Jones Newswire said that Kaeser had commented in November that restructuring at NSN would impact the profits of Siemens.
NSN's future prospects are also, along with Ericsson's and Huawei's, likely to be hurt by India's Supreme Court decision to revoke over 200 mobile licences and thereby cause consolidation in the much overcrowded market.
NSN reported weaker than anticipated fourth-quarter results, and it expected to struggle in the first quarter of 2012 as it implements a massive restructuring programme.
For more:
- see this Reuters article
- see this Dow Jones Newswire article
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