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Photo: Zhang Yang/Huanqiu.com/VCG via Getty Images

Nokia chief executive and president Rajeev Suri will step down on Sept. 1 and be replaced by Fortum CEO Pekka Lundmark, the company announced on Monday.

Why it matters: Nokia is one of only a few companies that make gear for 5G and other cellular networks, an area of increasing geopolitical focus — and growing competition among these companies. It has also reportedly hired advisers to consider strategic moves like a merger or asset sales.

Between the lines: Nokia has struggled in the face of intense competition from its rivals and has reported weaker results in recent quarters.

  • The CEO switch also comes after Suri indicated to the board that he wanted to step down, setting off a search for his replacement.

Pekka Lundmark, currently CEO and president of Finnish energy company Fortum, previously held the same position at Konecranes, which manufactures and services cranes and other lifting equipment.

  • He also spent the '90s as an executive at Nokia.

Go deeper

America rebalances its post-Trump news diet

Illustration: Annelise Capossela/Axios

Nearly halfway through President Biden's first 100 days, data shows that Americans are learning to wean themselves off of news — and especially politics.

Why it matters: The departure of former President Trump's once-ubiquitous presence in the news cycle has reoriented the country's attention.

2021 sees a record number of bills targeting trans youth

Illustration: Annelise Capossela/Axios

Republicans in at least 25 states have introduced over 60 bills targeting transgender children — a legislative boom since January that has beaten 2020's total number of anti-trans bills.

Why it matters: LGBTQ advocates say the unprecedented push was catalyzed by backlash to Biden's election and the Supreme Court ruling that workers cannot be fired for being gay or transgender.

Why migrants are fleeing their homes for the U.S.

Illustration: Eniola Odetunde/Axios Photo: Herika Martinez /Getty Images 

Natural disasters in Central America, economic devastation, gang wars, political oppression, and a new administration are all driving the sharp rise in U.S.-Mexico border crossings — a budding crisis for President Biden.

Why it matters: Migration flows are complex and quickly politicized. Biden's policies are likely sending signals that are encouraging the surge — but that's only a small reason it's happening.