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< Esato Forum Index > Manufacturer Discussion > Nokia > Nokia appoints Stephen Elop to President and CEO Bookmark topic

Espoo, Finland -Nokia's Board of Directors has appointed Stephen Elop President and Chief Executive Officer of Nokia as of September 21. Elop currently heads Microsoft's Business Division. Before joining Microsoft, Elop held senior executive positions in a number of US-based public companies, including Juniper Networks, Adobe Systems Inc. and Macromedia Inc. He holds a degree in computer engineering and management from McMaster University in Hamilton, Canada, which is his home country.

"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 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. We believe that Stephen will be able to drive both innovation and efficient execution of the company strategy in order to deliver increased value to our shareholders," said Jorma Ollila, Chairman of the Nokia Board of Directors.

Elop commented on his new Nokia position: "I am extremely excited to become part of a team dedicated to strengthening Nokia's position as the undisputed leader of the mobile communications industry, with a relentless focus on meeting the needs and expectations of customers. 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."

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.

"The whole Board of Directors joins me in thanking Olli-Pekka for his thirty years at Nokia, during which he has been deeply involved in developing the company and its operations. His dedication and contribution throughout the years has been exceptional. The Board wishes him every success in his future pursuits," says Jorma Ollila.

In accordance with the terms and conditions of his service contract, Kallasvuo is entitled to a severance payment consisting of 18 months gross base salary and target incentive which totals approximately 4.6 million euro. He will also receive as compensation the fair market value of the 100 000 restricted Nokia shares granted to him in 2007, which vest on October 1, 2010.

Full press
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Posted: 2010-09-10 11:43:54
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I just seen this on BBC News. This guy from Canada has a good background in software from Microsoft & I think it could be good for Nokia's future. From what the news was saying that Nokia is no longer seen as cool. I do not think the word cool is the right word for Nokia right now. I think it's more LOST THEIR WAY. I still have a liking for Nokia but they do need a new lease of life
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Posted: 2010-09-10 23:57:26
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Not sure that Nokia have ever been 'cool'. Perhaps back in the early 2000's with the 5110 that came pre-loaded with 20+ ringtones and had changeable faceplates, and then again with the N95 1GB do-everything phone, but usually they are ruthlessly efficient and highly competent, much like Mercedes. The iPhone is perennially cool while the latest Android phones are also cool until the next new fandroid-favourite comes along.

Does this signal a future Nokia focus on Windows Phone 7 OS? Nokia and Microsoft have close ties and I think it makes sense to both companies to link up to produce competitive smartphones. Nokia needs a closed OS so that it can continue to add value with it's own software, while Microsoft needs the large loyal Nokia customer base to get WP7 up and running with decent market share before Android gets to far ahead to catch.

Watch this space.
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Posted: 2010-09-11 01:23:51
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I just hope the N8 is going to do well for them I look forward to that model. Yes Nokia seems to be more for business these days but that could also be there downfall if Symbian does not continue & Nokia never go the Android route. Alot of their phones now are too boring
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Posted: 2010-09-11 01:50:34
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