Nokia OYJ Says Board Fully Supports President And CEO Pekka Lundmark And Is Not Undergoing A Process To Replace Him In Response To Financial Times Article "Nokia seeks to replace CEO in bid to revive falling sales"
Portfolio Pulse from Benzinga Newsdesk
Nokia OYJ has publicly stated that its board fully supports President and CEO Pekka Lundmark, countering a Financial Times article suggesting the company is seeking to replace him to address declining sales.
September 12, 2024 | 3:10 pm
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Nokia OYJ has denied reports of seeking a new CEO, affirming support for current CEO Pekka Lundmark. This statement aims to stabilize investor confidence amid concerns over declining sales.
The denial of CEO replacement rumors by Nokia is crucial to maintaining investor confidence. While the news does not directly address the sales decline, it reassures stakeholders of leadership stability. This could neutralize any negative impact from the rumors, resulting in a neutral short-term stock price effect.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100