Former Nokia CEO Pekka Lundmark took up the reins as chairman for IoT player Telenor Connexion.
Lundmark’s appointment was one of a flurry of Telenor board appointments, which the Swedish-headquartered business said marked its focus on “accelerating global growth through organic development, innovation, and value-creating [mergers and acquisitions].”
Joining the ex-Nokia chief are Ingrid Wistrand, former COO for Deutsche Telekom and one-time CEO for Tele2 IoT, bringing “extensive industrial IoT expertise” to the board. Another new name, Morten Weicher, represents investment firm Verdane, which part owns Connexion alongside Norwegian telecom giant Telenor.
Connexion was formed in 2008 as a dedicated machine-to-machine (M2M) connectivity subsidiary. In 2021, Connexion was combined with other units under the Telenor IoT brand, which is helmed by CEO Mats Lundquist.
Telenor Connexion's push comes as recent research from IoT Analytics claimed the worldwide enterprise IoT market increased 13% in 2025, reaching $324 billion in value and connecting 21.1 billion devices at year-end. The firm is forecasting 14% year-over-year growth in 2026.
Lundmark’s Connexion role is the latest board appointment for the Nokia veteran. After stepping aside following his five-year Nokia CEO stint for current incumbent Justin Hotard, Lundmark sits on boards for quantum firms Qutwo and QMill, Siemens Energy, and various Finnish organizations.
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