Indian born Rajeev Suri will become the new chief executive of Finnish telecommunications gear maker Nokia, the company said on Tuesday, adding that it would return an extra 1 billion euros to shareholders from the sale of its phone unit.

Suri, 46, until now led Nokia Solutions and Networks (NSN), the smaller network equipment unit of Nokia when the company still made mobile phones.

Suri is credited with turning the unit around, and last year it contributed most of the 12.7 billion euro ($17.58 billion)turnover Nokia made from its continuing operations.

“Rajeev is the right person to lead the company forward,” Nokia Chairman Risto Siilasmaa said in a statement. “He has a proven ability to create strategic clarity, drive innovation and growth, ensure disciplined execution, and deliver results.”

Nokia finalised the around 5.4 billion euro ($7.5 billion) sale of its struggling mobile phone business to Microsoft on Friday. It said it would now focus on its three remaining businesses that cover networks, navigation and patents.

NDTV

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