Inmarsat Appoints Former Nokia Chief as CEO
Inmarsat, the world leader in global, mobile satellite communications, announces that Rajeev Suri, former Nokia CEO, will join the business and assume the role of CEO and become a director of Connect Bidco Limited, the holding company for Inmarsat, from 1 March 2021.
He has a record of accomplishments, including moving Nokia to one of the top two players in telecommunications infrastructure through both M&A and organic growth, doubling revenues to EUR 23 billion in 2019 and increasing non-IFRS operating profit from EUR 28 million in 2009 to over EUR 2 billion in 2019 during his eleven years of leadership. Rajeev led the consolidation of the network infrastructure sector from ten players to three major players in just over a decade, leaving the overall industry much healthier. During his time as Nokia CEO, large shareholder returns in the form of dividends and share buybacks of EUR 8.5 billion were made.
Rajeev most recently led Nokia’s leadership in 5G for communication service providers and successfully diversified Nokia into new business areas. He established an independent software business that became the leading telecom software business in the world, quadrupled the annual recurring revenue run rate of the patent licensing business and led a new foray into large enterprise networks with double digit revenue growth over the last several years. Rajeev will be based in the UK.
Andrew Sukawaty Inmarsat’s Chairman, said: “The Board is delighted to welcome Rajeev to Inmarsat and we look forward to working closely with him and with the existing Executive team. Rajeev’s experience will support Inmarsat’s future growth and we look forward to the business transitioning successfully to another capable leader.”
Rajeev Suri said, “I am very excited to join Inmarsat, and to work closely with such skilled people, at such an important moment for the company and the satellite communications industry as a whole. I have been very impressed by the capabilities and ambitions of the company and its partner community and wish to pay tribute to their ethos, drive and ingenuity. Together, they have established technology leadership in satellite mobility, underpinned by a unique understanding of the customer.”
(This content is surmised from a press release)