Telenor has brought in Pekka Lundmark, the former chief executive of Nokia, to chair Telenor Connexion, its Internet of Things division. The move forms part of a broader overhaul of the unit's governance and management structure, designed to fuel expansion and create fresh offerings.
Lundmark, who has previously served as chief executive of Finnish industrial firms Fortum and Konecranes, will assume the position of independent chairman at the IoT business.
The board reshuffle extends beyond Lundmark's appointment. Ingrid Wistrand, who founded Tele2 IoT and ran it as chief executive before moving to Deutsche Telekom IoT as Chief Operating Officer, is also joining the board. Morten Weicher, representing investment firm Verdane following its strategic tie-up with Telenor announced in May, rounds out the new appointments. Weicher brings expertise in mergers and supporting tech firms to enter fresh markets.
Existing board members Dan Ouchterlony, Tom Hvammen and Liv Ingeborg Blekkerud will stay in their positions, ensuring Telenor Group maintains its presence on the board.
In a parallel move, Telenor Connexion has named Jesper Bruksner as chief human resources officer. Bruksner previously held senior positions at fintech firm Klarna and digital health company Kry, and will oversee hiring, talent development and backing the division's growth strategy.
Mats Lundquist, chief executive of Telenor Connexion, said: "This is the first visible step in the strategic partnership between Telenor Group and Verdane, and it underlines our ambition to accelerate from a strong starting point. We are building on a company known for quality, reliability and exceptional customer satisfaction. With the combined strengths of Telenor and Verdane, we have a unique opportunity to bring more innovation to our customers and strengthen our position as a leading global IoT service provider."
Through the partnership, Telenor Connexion intends to bolster its IoT capabilities, expand its reach among international clients and pursue targeted acquisitions.
