Photo: Zhang Yang/ 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.

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Trump commutes Roger Stone's sentence

Roger Stone arriving at his sentencing hearing on Feb. 20. Photo: Drew Angerer/Getty Images

President Trump on Friday evening commuted the sentence of his longtime associate Roger Stone, according to two senior administration officials. Stone in February was sentenced to 40 months in prison for crimes including obstruction, witness tampering and making false statements to Congress.

Why it matters: The controversial move brings an abrupt end to the possibility of Stone spending time behind bars. He had been scheduled to report to prison on July 14.

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Which states have set single-day coronavirus records this week

Data: COVID Tracking Project and state health department data compiled by Axios; Map: Danielle Alberti and Naema Ahmed/Axios

13 states this week surpassed records set just last week for their highest number of coronavirus infections in a single day, according to the COVID Tracking Project and state health department data. 16 states in total reported new highs.

The big picture: The United States' alarming rise in coronavirus cases isn't just due to increased testing — particularly where the number of cases has grown fastest over the last month, Axios' Andrew Witherspoon and Caitlin Owens report.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6:30 p.m. ET: 12,389,660 — Total deaths: 557,279 — Total recoveries — 6,830,596Map.
  2. U.S.: Total confirmed cases as of 6:30 p.m. ET: 3,169,611 — Total deaths: 133,885 — Total recoveries: 983,185 — Total tested: 38,856,341Map.
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  4. Trade: Trump says he's no longer considering phase-two trade deal with China because the pandemic damaged the two countries' relationship.
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