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Pekka Lundmark, President and Chief Executive Officer (CEO)

Pekka Lundmark

‌b. 1963

In almost 20 years as a CEO, Pekka has accrued deep expertise in the telecommunications, technology, energy, manufacturing, machinery, retail and finance sectors, all of which are central to the transition into the Fourth Industrial Revolution. 

Pekka was appointed Nokia’s CEO in August 2020. He previously worked for the company between 1990 and 2000, when he helped oversee Nokia’s emergence as the world’s biggest mobile handset manufacturer and a significant player in mobile infrastructure.  

Pekka started his Nokia career as an account manager, responsible for the launch of the world’s first GSM network. He led the company’s expansion into new territories and became known as a dynamic and visionary leader who knew how to adapt businesses to prepare for, and capitalize on, coming trends. 

He moved from Nokia into venture capital with Startupfactory, followed by the consumer goods company Hackman, where he first became a CEO.  

He then led Konecranes for 10 years, before in 2015 moving to Fortum, an international energy company that has reshaped the energy system across much of Northern and Eastern Europe and beyond. His time at Fortum was characterized by improving resource efficiency and pursuing modern methods of energy generation, as well as well-timed mergers and acquisitions. This led to the creation of considerable shareholder value. 

Pekka’s broad experience, which includes working in Silicon Valley and Asia, has given him insight into new technologies and techniques that will be at the heart of the Fourth Industrial Revolution. These include 5G, artificial intelligence (AI), private networks, the Industrial Internet of Things (IIoT), predictive maintenance, cloud computing, adapting business models, retraining staff, supply chain optimization and widespread digitalization.  

Originally from Espoo, Finland, Pekka earned a master’s degree in information systems from Helsinki University of Technology. He chairs the Confederation of Finnish Industries and holds advisory or oversight roles at the Climate Leadership Council, the Royal Swedish Academy of Engineering Sciences and the Finnish Athletics Federation, among others.

Current positions of trust:

  • Confederation of Finnish Industries, Chairman of the Board
  • Climate Leadership Council, Member of the Board
  • Research Institute of the Finnish Economy ETLA / Finnish Business and Policy Forum EVA, Member of the Board
  • Royal Swedish Academy of Engineering Sciences IVA, Foreign Member of the Academy
  • Finnish Athletics Federation, Member of the Board

Career history:

  • President and CEO, Fortum [2015–2020]
  • President and CEO, Konecranes [2005–2015]
  • Group Executive Vice President, Konecranes [2004–2005]
  • President and CEO, Hackman [2002–2004]
  • Managing Partner, Startupfactory [2000–2002]
  • Senior Vice President, Marketing, Nokia Internet Communications [1998–2000]
  • Vice President, Strategy & Business Development, Nokia Telecommunications [1996–1998]
  • Vice President, Access Systems Business Unit, Nokia Telecommunications [1994–1996]
  • Managing Director, Nokia Telecommunications, Denmark [1992–1994]
  • Account Manager, Nokia Cellular Systems [1990–1992]