Send tip

Category: Various

Microsoft’s Stephen Elop, Nokia’s New CEO

Written on September 12, 2010 by B Waldorf

Comments Off

CEO Olli-Pekka Kallasvuo, consider yourself dethroned. Nokia found a new replacement and he's from Microsoft.

After a series of endless search, Nokia has chosen a new CEO. Who? No other than , the former president of Microsoft’s Business division.

Early 2010, Nokia surfaced an unhappy leadership from former CEO especially in realm of smartphones. They lost quite a big pursuit against the era of Apple’s iPhone and Google’s Android. There was a drop of 40% on their annual profit.

“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,” Nokia Chairman Jorma Ollila said in a statement. “The Nokia Board believes that Stephen has the right industry experience and leadership skills to realize the full potential of Nokia.”

Elop was a Microsoft division’s President since January 2008. He was responsible for the company’s profitable divisions and oversaw the development of Microsoft Office, Dynamics and other enterprises. Before Microsoft, he was COO of Juniper Networks; president of worldwide field operations at Adobe and the CEO of Macromedia until its acquisition by Adobe.

Olli-Pekka Kallasvuo will be stepping down from his post on September 20 as well as vacating his seat on the Board of Directors. But, he won’t go home empty handed. He will receive 4.6 million euros in severance and the “fair market value” of 100,000 Nokia shares.

Nokia has been suffering from desperate need of new leaders and new race of employees. They had been slow on response for the smartphones from Apple and Google. Elop launched the Microsoft Office 2010. But all things has to change.

View Article Source »

Comments (0)

Comments are closed.

If you want to leave a comment you must be logged in or registered.

Related articles


View all