Telenor Connexion has appointed Pekka Lundmark, president and CEO of Nokia from August 2020 until April 2025, as chair of its board. The move anchors a broader reshuffle at the Telenor-backed IoT specialist and signals an earlier decision to bring equity company Verdane into its ownership structure.

Lundmark handed the Nokia top job to Justin Hotard in April 2025 after nearly five years in charge. His arrival at Telenor Connexion gives the Swedish IoT unit a chair with recent experience running one of the largest telecom equipment vendors in the world.

CEO Mats Lundquist framed the appointments in ownership terms. The board shuffle is the "first visible step" in a move to bring Verdane in as a co-owner of Telenor Connexion, he said. He added that the new line-up is intended to give the IoT unit a "strong starting point" as it seeks to solidify a frontrunning position in global service provision.

Who joins the board?

The reshuffle adds three members alongside Lundmark:

• Ingrid Wistrand, an executive with experience in the IoT units of Tele2 and Deutsche Telekom;
• Morten Weicher, representing Verdane;
• Jesper Bruksner, who takes on HR matters.

Telenor Connexion highlighted Bruksner's record in "scaling global technology companies". He previously worked at digital payments player Klarna and online health provider Kry.

Existing directors Dan Ouchterlony, Tom Hvammen and Liv Ingeborg Blekkerud remain in place to oversee corporate development.

What does this change for Telenor Connexion?

In practical terms, the company gains boardroom depth across IoT operations, private equity ownership and rapid-growth technology scaling. Wistrand brings direct IoT unit experience from two major European operators. Weicher's seat gives Verdane formal governance presence ahead of its co-ownership. Bruksner covers the people function as the unit pushes for global scale.

The company said the reshuffle aims to broaden experience among its top brass. Lundmark's chairmanship adds vendor-side credibility to that mix.

Ownership context

Verdane's entry as co-owner was set in motion before this reshuffle. The board changes make that process visible for the first time, according to the CEO. Telenor Connexion, part of the Norwegian Telenor group, provides IoT connectivity and managed services to enterprise customers internationally.

The combination of a heavyweight chair, an operator-trained IoT executive and a private equity representative on the board points to a unit preparing for a new ownership and growth phase. Further steps in the Verdane transaction, and the pace of the unit's international expansion, should become clear as the co-ownership process advances.