HELSINKI, Finland-Kaj-Erik Relander, president and chief executive officer of Sonera Corp., has resigned effective Aug. 1. He will continue as an adviser to the chairman of the board of the company until the end of 2001.
The Finnish operator is currently in discussions with Sweden’s Telia regarding a possible merger. Relander has been in his current position for six months and has been criticized for Sonera’s high debt amounts due mainly to acquisitions of European third-generation licenses.
“Mr. Relander’s decision was a surprise to me,” said Tapio Hintikka, Sonera chairman of the board. “Personally, I would have hoped him to continue. He has, however, made his decision, which I understand and respect. The next step for Sonera is to find a new president and CEO, who will come outside of the company.”
Aimo Eloholma was appointed deputy CEO and acting president and CEO from Aug. 1 until the new president and CEO is selected and begins office.
Relander plans to join Accel Partners Venture Capital as a partner and will lead the investment strategy for Accel’s global wireless activities.
