Nokia Siemens Networks has revealed that Samih Elhage will become its new chief financial officer, replacing Marco Shroeter, who is to leave the company “with immediate effect”.
Previously the chief operating officer, Elhage will continue to report to chief executive Rajiv Suri, but the role of chief operating officer is to be “discontinued”.
Nokia Siemens Networks (Helsinki, Finland) provided no explanation of Shroeter’s sudden departure but said he was part of the team leading the successful restructuring of the vendor – a joint venture between Nokia (Helsinki, Finland) and Siemens (Munich, Germany).
“Marco played a key role in stabilizing our financial situation and delivering our recent, very strong, financial performance,” said Suri. “He has my thanks for all his contributions and I wish him well in the next steps of his career.”
The appointment of a former chief operating officer, and the scrapping of that role, suggests Elhage will have unusually broad responsibilities at the company.
“He has deep commercial skills and a strong command of company financials – competencies built over the years as an operating executive at Nortel (Mississauga, Canada),” said Suri.
Besides his industry experience, Elhage has previously worked as an advisor to private-equity and management-consulting firms, specializing in investments and improving the operational performance of companies in the telecoms sector.
Having recently emerged from a round of intensive restructuring that included plans for 17,000 job cuts, Nokia Siemens Networks is undoubtedly keen to focus on strategy and operations over the next few months.