Some time ago, Nokia was looking for the Chief Executive Officer (CEO) recently. That's because the previous CEO, Olli-Pekka Kallasvuo is considered less successful in the market. Now the 'heroes' new Nokia has come up with a myriad of expectations.
As quoted from Softpedia, Saturday (09/11/2010), substitute Kallasvuo was named Stephen Elop. Previously, he has held senior executive positions at several companies. Among them: Juniper Networks, Inc., Adobe Systems and Macromedia.
In terms of educational background, he never earned a degree in computer engineering and management from McMaster University in Hamilton, Canada.
"Board of directors Nokia believes that Stephen has the right industry experience and leadership skills to realize the full potential of Nokia. His experience in bringing a change in management has been proven and this will be a valuable asset to complete the transformation of the company," said Jorma Ollila, Chairman of the Nokia Board of Directors .
He also believed, Stephen would be able to encourage innovation and efficiency in order to provide increased value to shareholders of Nokia. Stephen himself was proud to join with the company's classmates Nokia.
"Nokia has a unique position in the global market as a big brand. The company has a deep talent that will continue to provide innovative products for the needs of consumers," said Elop.
With the inclusion of Stephen Elop, the Kallasvuo immediately resigned from his position on the board of directors of Motorola. But he will still be sitting in a chair the board of the non-executive capacity.
Nokia Shares Jump Up
As is known, while the Nokia posted a 40 percent decline in operating profit in the second quarter-2010, it was speculated that there is a new boss is appointed.
CEO turnover is making news Nokia shares rose 4.97 percent to 8.12 euros on the Helsinki Stock Exchange, Finland. Elop who now serves as President of Microsoft Business Division, will take over as CEO of Nokia on 21 September 2010.
Elop shift the position Kallasvuo has 30 years working at Motorola, and served as CEO since 2006. "The board of directors thank Olli-Pekka joined Nokia has over 30 years and has been deeply involved in developing the company and its operations," said Ollila.