Nokia India Announces Leadership Change: Sanjay Malik to Retire, Replaced by Srini Chhabra
Nokia India has announced a leadership change, with Sanjay Malik retiring from his position as Head of Nokia India effective March 31, 2024. Sanjay Malik has served in this role for almost eight years. Taking over from him will be Srini Chhabra, who currently serves as the head of mobile networks and senior vice president at Nokia. Chhabra will assume his new position starting April 1, 2024.
The restructuring at Nokia India is part of a global plan announced by Nokia in October 2023 to streamline operations and cut costs. This restructuring has seen Nokia undergo significant changes, including potential job cuts of over 11,000 globally. The aim of these actions is to position the company for long-term growth and help it navigate the current market uncertainties.
Nokia is taking decisive action on three levels: strategic, operational, and cost. The company has merged its sales team into the business groups to provide them with more operational autonomy. Additionally, Nokia has reset its cost-base to protect profitability, believing that these actions will strengthen the company and deliver significant value for shareholders.
The proposed changes at Nokia India are aligned with global guidelines and focus on customer-centricity and business excellence. Despite challenges in the telecom industry, such as the maturing of the 5G rollout globally and in India, Nokia remains committed to driving innovation and providing high-quality services to its customers.
In Q4 2023, Nokia witnessed a 33% sequential fall in sales in India, reflecting the challenges faced by telecom network providers amid the evolving market dynamics. However, Nokia remains optimistic about its future prospects and is dedicated to delivering excellence in the telecom sector.
As Nokia undergoes leadership changes and strategic restructuring, the company remains committed to its mission of driving technological innovation and delivering value to its stakeholders. With Srini Chhabra taking over the reins, Nokia India looks forward to continued growth and success in the dynamic telecom landscape.