backtop


Print 8 comment(s) - last by mlambert890.. on Sep 19 at 9:46 AM


Elop from his Macromedia days  (Source: AP)
Elop takes over on September 21

Nokia has announced that Olli-Pekka Kallasvuo is out as CEO and that he has been replaced with a top executive from Microsoft. That executive is Stephen Elop who was formerly part of Microsoft's Business Division. Elop will take over as CEO of Nokia on September 21.

Microsoft CEO Steve Ballmer sent an email to Microsoft workers notifying them of the change and stating that, "Stephen leaves in place a strong business and technical leadership team, including Chris Capossela, Kurt DelBene, Amy Hood and Kirill Tatarinov, all of whom will report to me for the interim." Ballmer also pointed out that the Business Division has continued to grow with a 15% growth rate in the previous quarter.

The
Associated Press reports that news of Kallasvuo's replacement has sent stock in Nokia up 5% in Helsinki. Elop was also a top executive at other notable tech firms like Juniper Networks, Adobe Systems, and Macromedia.

Nokia board chairman Jorma Ollila said in a statement, "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."

Kallasvuo will also give up his seat on the board at Nokia immediately and will be replaced there by Elop. Kallasvuo has been with Nokia since 1982 and he will continue to chair the board of the Nokia Siemens Networks unit as a non-executive.

Nokia holds the majority of the handset sales globally with 33% of the market, but the company has a history of missing trends that have kept it from competing in high-end smartphone markets where profits are higher.

The departure of Kallasvuo is no surprise; Nokia has been actively looking for a new CEO since July. Perhaps the biggest factor contributing to the ouster of Kallasvuo was the fact that he has been unable to grow business in North America, Nokia's poorest performing market. When Kallasvuo took over as CEO in 2006 he vowed to make North America a priority.



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

With names like...
By chagrinnin on 9/10/2010 12:23:41 PM , Rating: 2
"...Olli-Pekka Kallasvuo ...Stephen Elop, Chris Capossela, Kurt DelBene,... and Kirill Tatarinov",...how the hell did someone named "Amy Hood" get hired on and did someone lose their job over this obvious blunder? Her name doesn't even flag spellcheck for Christ's sake!? :P




RE: With names like...
By wvh on 9/10/2010 7:14:09 PM , Rating: 2
I guess they *had* to hire a woman... It's probably a local cleaning lady hired pro forma. :-P


"Spreading the rumors, it's very easy because the people who write about Apple want that story, and you can claim its credible because you spoke to someone at Apple." -- Investment guru Jim Cramer

Related Articles
Nokia Actively Looking for New CEO
July 20, 2010, 3:34 PM













botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki