By Kat Asharya | Fri Sep 10, 2010 12:32 pm |
Nokia announced today that it is replacing current CEO Olli-Pekka Kallasvuo with Microsoft executive Stephen Elop, as the company attempts to stay competitive in an innovative, fast-changing smartphone market.
Elop, head of Microsoft's business division, has held executive positionss at Juniper Networks, Adobe Systems, and Macromedia. He takes over Nokia on September 21.
"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," said Jorma Ollila, chairman of the Nokia's board and a former CEO.
Ollila said that Elop has a "strong software background and proven record in change management, which will be valuable assets as we press harder to complete the transformation of the company."
Elop comes with a strong engineering and management background with a degree in both from McMaster University in Hamilton, Ontario. He became CEO of Macromedia, maker of Flash software, in 2005, just months before Adobe bought the company.
Kallasvuo, who joined the company in 1982, will leave as president and CEO on September 20 and give up his seat on the board of directors with immediate effect. He will continue to chair the board of the Nokia Siemens Networks unit in a non-executive capacity, the company said.
Nokia, the world's largest cell phone maker by volume, was once the market leader in the mobile phone sector. But strong competition from Apple's iPhone, RIM's BlackBerry and Google's Android operating platform has seen the Espoo, Finland-based company struggle in the almighty smartphone market.
Nokia has been slow to pick up on new trends in technology, like folding clamshell models and touch screen handsets.
The company also struggles in the North American market, which is the company's worst performer.
When Nokia posted a 40 percent operating profit slump in the second quarter of 2010, it was speculated that Kallasvuo, who joined the company in 1982, would be ousted.
Elop knows that he is helming Nokia at a moment when the entire industry is in a state of flux. "It is the case in the technology world that there are critical moments where fundamental change takes place. Today, right now today, we are going through a similar moment," Elop said. "For Nokia, this moment of change represents huge opportunities."
Nokia's hiring of a Microsoft veteran could also pave the way for more cooperation between Nokia and the software giant, which have in the past collaborated in developing Nokia's Symbian operating system.
"In the case of any partnership between large technology companies, there is some co-operation and there is some competition," Elop said. "The lines of communication are now open, and there may be opportunities in the future for more co-operation."
|
|
Thu Jan 26, 2012 2:39 pm | By
Nokia's recent loss in profits highlights the company's difficult transition, as it shifts towards Windows phones and gears up for big changes in this year.
|
|
|
|
Thu Jan 26, 2012 11:14 am | By
Nokia's Windows Phone-powered Lumia 900 will sell for $100 when it launches at AT&T later this year, according to reports, in a move that will raise the profiles of the maker and the OS.
|
|
|
|
Tue Jan 24, 2012 11:30 am | By
Nokia shipped more than one million Lumia handsets last year, analysts estimate, signaling early success for the company's critical Microsoft partnership.
|
|
|
|
Thu Jan 12, 2012 1:02 pm | By
Analysts predict a surge of sales for the Windows Phone platform, as Nokia and Microsoft head into the smartphone market in 2012 with updated hardware and plans for heavy promotion.
|
|
|
|
] |
CellReception.com |
CellRisk.com |
Appedia.com |
Tabletedia.com
[ 
] |
iTVedia.com