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Nokia is replacing its CEO.

Pekka Lundmark, CEO of energy company Fortum Oyj and a former Nokia exec, will replace Rajeev Suri in September, the company announced Monday.

Suri, who has run the telecoms firm since 2014, has faced criticism for his handling of Nokia's 5G rollout, which has seen it lose market share to Huawei. This comes less than a week after Bloomberg reported that Nokia was considering a potential merger or sale of its assets.

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