Nokia Appoints New Chief Executive to Revitalize Mobile Phone Business

Nokia's Appointment Completes Intel-Microsoft-Nokia Triangle

by Anton Shilov
09/10/2010 | 01:44 PM

In a bid to recapture the lost smartphone market share, Nokia Corp. has decided to change chief executive officer of the company. Starting from September 21, 2010, Stephen Elop, who presently heads Microsoft Corp.'s business division, will become chief executive officer and president of Nokia. Given the background of Nokia, Microsoft and Intel triangle, it looks like Nokia is gearing up to fight both Apple and Google.

 

"The time is right to accelerate the company's renewal; to bring in new executive leadership with different skills and strengths in order to drive company success. The Nokia board of directors believes that Stephen has the right industry experience and leadership skills to realize the full potential of Nokia. His strong software background and proven record in change management will be valuable assets as we press harder to complete the transformation of the company," said Jorma Ollila, chairman of the Nokia board of directors.

The appointment of an executive from Microsoft shows several things:

"Nokia has a unique global position as well as a great brand upon which we can build. The company has deeply talented and dedicated people, and I am confident that together we can continue to deliver innovative products that meet the needs of consumers. The Nokia slogan clearly states our key mission: Connecting People, which will acquire new dimensions as we build our portfolio of products, solutions and services," said Stephen Elop.

Olli-Pekka Kallasvuo will leave his current position as president and CEO of Nokia on September 20, 2010 and his position on the Nokia board of directors with immediate effect. He will continue to chair the Board of Nokia Siemens Networks in a non-executive capacity.