Joining the satco as CEO – while also serving as director of Inmarsat's holding company Bidco Limited – Suri brings decades of C-suite experience to the new role.
He led Nokia for six years as president and CEO and prior to that he was the CEO of Nokia Siemens Networks for five years. Since stepping down in August 2020, Suri has worked in senior advisory roles with private equity firms Warburg Pincus and Apollo Global Management.
Pearce's tenure as CEO ends on 28 February.
Commenting on his appointment, Suri said: "I am very excited to join Inmarsat, and to work closely with such skilled people, at such an important moment for the company and the satellite communications industry as a whole. I have been very impressed by the capabilities and ambitions of the company and its partner community and wish to pay tribute to their ethos, drive and ingenuity. Together, they have established technology leadership in satellite mobility, underpinned by a unique understanding of the customer.”
Suri is credited with moving Nokia to one of the top two players in telecommunications infrastructure through both M&A and organic growth, doubling revenues to €23 billion in 2019 and increasing non-IFRS operating profit from €28 million in 2009 to over €2 billion in 2019 during his eleven years of leadership.
He led the consolidation of the network infrastructure sector from 10 players to three major players in just over a decade, leaving the overall industry much healthier. During his time as Nokia CEO, large shareholder returns in the form of dividends and share buybacks of €8.5 billion were made.
For the new role, Suri will be based in the UK.
Inmarsat chairman Andrew Sukawaty, said: "The Board is delighted to welcome Rajeev to Inmarsat and we look forward to working closely with him and with the existing Executive team. Rajeev’s experience will support Inmarsat’s future growth and we look forward to the business transitioning successfully to another capable leader.”
Commenting on Pearce's departure, Sukawaty, added: “Rupert has been with Inmarsat for 16 years and as its CEO for just over 9 years and has led many initiatives and accomplishments which have laid the foundation for the future. He has been an excellent and forward thinking leader and the Board and I want to extend heartfelt thanks to Rupert for his tremendous contributions to Inmarsat. I am delighted also that Rupert will provide advisory services to Rajeev for a transitional period.”
Pearce said: "Inmarsat has established itself as world leader in space technology and I feel privileged to have worked with such a dedicated and talented group of people during my time at the company. I wish Rajeev and the company the very best for the exciting future ahead.”
