Nokia Oyj (ADR) (NYSE:NOK) announced on Friday that it hired Hires Gregory Lee, a former executive at Samsung Electronics as the new head of the Nokia Technologies division.
Lee has been with Samsung for 13 years and he held down the CEO position for the Korean giant in the North American region. He has been the head of all the company’s electronics businesses in North America since 2014. He will now lead a team of Nokia executives in the U.S through the Nokia Technologies division which aims to dig deeper into various industries such as digital health and virtual reality.
“I am excited by the opportunity to lead Nokia Technologies. The Nokia Technologies team has produced innovative products and solutions in dynamic, high growth segments of the consumer technology market, and I am honored to be in a position to help build on this success in the future,” Lee pointed out in a statement.
Lee is the ideal fit for the leadership position at Nokia’s tech division
Lee’s numerous years at Samsung have equipped him with the skills necessary to handle the position that Nokia has offered him. During his tenure at Samsung, he also handled digital content, virtual reality, and digital health. These are the same technologies that Nokia is now focusing on. This explains why Nokia was quick to poach him.
Nokia’s president and CEO Rajeev Suri welcomed Lee on board, stating that his company has chosen the right person to take the Nokia Technologies division to the next level. He also expressed a lot of excitement about the brand and the products that it will develop in the future. The new hire comes just around the same time that the company has been working on making a comeback in the smartphone market. The tech firm is planning to launch three new handsets that are expected to be launched this month in Australia. However, there is a lot of competition in the smartphone market and it will be interesting to see what Nokia bring to the table.
Nokia stock closed the latest trading session on Friday at $6.16.