Nokia, the largest mobile phone maker in the world, announced Friday that the head of Microsoft Business Division, Stephen Elop, will become the new CEO of the Finnish group, the main objective being to strengthen the position on the smartphones market, informs Reuters.
“His experience and solid software industry proven capabilities in the management of change will be important assets in our efforts to complete the transformation of the company” said the President of Nokia, Jorma Ollila.
Elop will take the chair of the former CEO of Nokia, Mr. Kallasvuo on September 21. Under the leadership of Kallasvuo, who has spent more than half of his life working for Nokia, the Finnish group has faced significant challenges in market competition with rival like smartphones producers Apple or Google.
The company said the former CEO is entitled to a compensation of 4.6 million euros and will also receive 100000 shares that may be sold from October 1, 2010. The management of Nokia hopes that with the new management and the new measures imposed by this CEO, the company will succeed in becoming the number one manufacturer on the smartphones market, not only on the mobile phones market, as it is right now.
It is difficult to say if this will happen, taken into account that Apple and Google do not stop surprising us almost every week with some new product or another aquisition that can make these companies to climb even higher on the ladder of success.11