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New CEO for Nokia

Stephen Elop of Microsoft appointed to lead Nokia into software and services

Elop was previously head of Microsoft's business division, and has held roles with Macromedia, Juniper and Adobe.
Elop was previously head of Microsoft's business division, and has held roles with Macromedia, Juniper and Adobe.

Nokia has completed its search for a new CEO, with the appointment of Stephen Elop, currently of Microsoft, to fill the post.

Elop, who is head of Microsoft's Business Division, will join the company as CEO from 21st September. He replaces the current CEO and president, Olli-Pekka Kallasvuo.

The appointment marks the first time that Nokia has promoted a non-Finn to lead the company, and is seen as a move to shake up the company, which has slipped in the smartphone market amid competition from companies such as Apple. Elop, who was previously CEO at Macromedia, and has held roles with Juniper and Adobe, will be tasked with expanding Nokia's business into software and services for mobile devices, instead of being primarily reliant on hardware.

"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.

"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," said Elop.

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," he added

Kallasvuo will step down as president and CEO of Nokia from 20th September, and will resign his seat on the board of directors of Nokia immediately. He will continue to chair the Board of Nokia Siemens Networks in a non-executive capacity.