Nokia Siemens Networks Replaces CFO

On Tuesday, the joint venture between Nokia (NYSE: NOK  ) and Siemens (NASDAQOTH: SIEGY  ) -- appropriately named Nokia Siemens Networks -- announced that Chief Financial Officer Marco Schroeter is leaving the company "with immediate effect." He had been with the company since March 2011.

No explanation was given for Schroeter's departure in the press release. CEO Rajeev Suri was quoted in the release as thanking Schroeter for his contributions and wishing him well.

Nokia Siemens moved quickly to name a replacement: Chief Operating Officer Samih Elhage, who will now become the company's CFO. The position of COO is going to be eliminated.

Elhage joined Nokia Siemens Networks from private equity in March 2012, and has worked in telecom for more than 23 years in both financial and operational roles, including as an exec at now-defunct Nortel. 


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2266609, ~/Articles/ArticleHandler.aspx, 9/28/2016 11:47:14 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,196.53 -31.77 -0.17%
S&P 500 2,153.73 -6.20 -0.29%
NASD 5,288.14 -17.57 -0.33%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/28/2016 11:31 AM
NOK $5.69 Down -0.02 -0.35%
Nokia CAPS Rating: **
SIEGY $116.41 Down -0.53 -0.45%
Siemens AG (ADR) CAPS Rating: ****