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Nokia Replaces CEO with Microsoft Exec

Sep 10, 2010, 6:18 AM by Eric M. Zeman
updated Sep 10, 2010, 6:58 AM

Nokia has removed its CEO, Olli-Pekka Kallasvuo, and replaced him with Microsoft executive Stephen Elop. Kallasvuo took the reigns from long-time CEO Jorma Ollila in 2006 and promised the reinvigorate the company's place in the U.S. market. Despite Kallasvuo's efforts, Nokia's share of the U.S. market has continued to decline. Kallasvuo has worked at Nokia most of his professional career. He will be given a severance package of approximately $5.8 million. Elop, who is from Canada, will be the first non-Finnish CEO of Nokia in its 145 year history. Elop's role at Microsoft was head of Microsoft's business division, which was responsible for bringing Microsoft Office 2010 to market earlier this year. He had been at Microsoft since 2008. The move comes just days ahead of Nokia World, which is taking place in London, September 14 and 15, where Nokia is expected to debut new devices. Elop officially becomes President and CEO of Nokia on September 21.

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Comments

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MadFatMan

Sep 12, 2010, 5:16 PM

The Last Two Cheerios in a Bowl of Milk Clinging to Each Other for Dear Life!

Symbian and Windows Mobile are about to fall by the wayside and meet the same fate as Palm OS did. Android OS growing exponentially and Apple is nothing short of jugernaut. RIM is holding on only by corporations that have a steep investment in their technology and RIM servers. I was a hardcore Windows mobile user for the past decade until I recently got an android while waiting for "Windows Mobile 7" .... 10 years and more than a dozen WinMo devices later, I am not looking back.

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