Here’s what Nokia’s new CEO needs to do to win the 5G race and boost shares

Incoming Nokia boss Pekka Lundmark has a challenging task ahead of him when he takes the reins of the struggling Finnish telecom equipment maker in September: catch up and win the global 5G race. Nokia NOK, +1.85%, which on Monday announced the resignation of chief executive Rajeev Suri, is facing intense competition and rising costs in a battle to get its 5G networks up and running. Lundmark has been chosen as the CEO to turn the company’s fortunes around, a move that has drawn praise from some analysts. “We believe a change of management is positive for Nokia NOKIA, -0.09%, which has been struggling with significant levels of senior management turnover amid weak profitability and losses of market share,” analysts at Liberum wrote in a research note on Tuesday.