Nokia Siemens shuffles executives

As Nokia Siemens Networks (NSN) finishes its consolidation efforts, the company has added a new CFO and a head of Strategy and Business Development.

Luca Maestri, formerly CFO of General Motors Europe, assumes the CFO position. He replaces outgoing CFO Eric Simonsen. With all the integration and restructuring done from the merger of divisions between Nokia and Siemens, Simonsen's specialized M&A skills are apparently no longer needed.

NSN also named Michael Matthews as the new Head of Strategy and Business Development. Matthews, former Chief Marketing Officer at Amdocs, replaces current Head of Strategy and Business Development Pekka Soini. Mr. Soini will move to the Corporate Development Office, handing quality, process development and IT; he will also retain his seat on NSN's executive board.

The changes in executive leadership appear to be relatively standard personnel moves, as NSN is on target to reach around 2 billion Euros in annual "cost synergies" by the end of this year.

For more:
- New executives release [1] from Nokia Siemens

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