Sunday, 05 July 2020

Telenor’s new Nordic Hub division looks to boost growth

by Harry Baldock, Total Telecom
Tuesday 26 May 20

The newly formed division will see Telenor’s executive management reshuffled

Back in March, Telenor announced the consolidation of its Asian clusters under one unified unit, and it is now doing the same for the Nordic countries.   The new Nordic Hub will reportedly target specific growth sectors within the region, including the 5G, IoT, SME and the wider enterprise segments…

Back in March, Telenor announced the consolidation of its Asian clusters under one unified unit, and it is now doing the same for the Nordic countries.
 
The new Nordic Hub will reportedly target specific growth sectors within the region, including the 5G, IoT, SME and the wider enterprise segments. The CEOs of Telenor’s current Nordic operations, which 
 
“These steps help to ensure that we are fit for the future, ready to uncover new growth, and at all times keeping our increasingly advanced customers connected to what matters most,” said Sigve Brekke, CEO and president of Telenor. 
 
The new Hub will be led by Telenor Denmark’s CEO Jesper Hansen, who will become chief operating officer of the new unit at the start of August. Hansen himself will be succeeded by Lars Thomsen, the Group’s acting head of Commercial & Strategy, who will step down from Telenor Group’s Executive Management team to take up the reins of Telenor Denmark. 
 
Meanwhile, Jukka Leinonen, Telenor’s current Head of Nordics and CEO of Finnish operator DNA Oyj, will retain his positions.
 
“We will modify the Group Executive Management structure for Telenor, effective 1 June, in order to reflect a focused and streamlined organisation, designed to support our strategic ambitions for growth, modernisation and responsible business,” explained Brekke. 
 
The wider reshuffle of the executive management team also means that women will feature more prominently. 
 
“With these changes, we will have 43 percent women in the executive management, exceeding our 35 percent target, as well as three nationalities. We will continue working on increased diversity in all levels of our organisation, and this is another step in the right direction,” said Brekke.
 
Combined, the new Asian and Nordic consolidations for Telenor represent part of a renewed focus on company efficiency and cost cutting, which sees the Group expecting to cut around 3,000 jobs in the next three years. The company is targetting cost savings of around $323 million per year by the end of 2022.
 
 
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