Nokia appoints new President and CEO, Stephen Elop
Nokia still leads the world in smartphone market share, but their profits are not what they should be and they have been a bit stagnant lately. A new CEO will be taking the reigns in September so stay tuned for more from Nokia.
There were rumors that Nokia was looking to replace OPK as President and CEO of the company after a fairly steady decline in profits as their market share has held fairly steady over the past couple of years. Mr. Stephen Elop is currently in charge of Microsoft's Business Division and will take over as President and CEO on 21 September. I will be at Nokia World in London next week and am curious if we will hear from Mr. Elop next week.
I think Olli-Pekka Kallasvuo (OPK) has done a good job over his thirty years at Nokia and championed some great products from Nokia, but now is the time to get the company back on track to more success and a fresh leader is probably what they needed to get things kicked off. From what I understand there will probably have to be many more leadership changes to get things going, but usually when a new CEO comes in they do make such changes so that leadership aligns with the objectives of the new leader.