“Elop is the worst CEO of all time,” Ahonen writes, “he has personally caused the biggest corporate downfall in the Global Fortune 500 history, after we eliminate management fraud and crimes. For management incompetence Elop is the benchmark. The worst CEO ever. We need not review all his damage, growing smartphone sales turned into history’s fastest collapse. Growing profitable handset business turned into fastest losses ever in this industry. Market share collapse – Nokia was twice as large in market share as the iPhone, four times as big as Samsung’s smartphones when Elop started – and grew more in 2010 than either rival – but now Nokia smartphones (on all of its platforms, combined) is one sixth the size of the iPhone and one tenth the size of Samsung’s smartphones. Nokia share price, Nokia brand value, Nokia loyalty, all destroyed in the past 2 years and four months.”
“I don’t mean that Nokia was ‘in great shape’ before Elop – I never said that, I was warning that Nokia had problems at the time – but Nokia was growing strongly, making strong – growing – profits, and towered over its rivals before the Elop Effect in February 2011. After Elop started to massacre the businesses of Nokia, its been sheer carnage,” Ahonen writes. “Now. Could there be a reason to the madness? What if we don’t examine this from the prism – what is best for Nokia and its shareholders. If we examine it from this angle ‘Elop promised to sell Nokia to Microsoft.'”
Read more in the full article – recommended – here.
MacDailyNews Take: Prior to being named Nokia CEO in September 2010, Stephen Elop worked for Microsoft as the head of its Business Division from January 2008 to September 2010. At the time of his retirement, Elop was Microsoft’s eighth largest shareholder.
It’s not too farfetched to think that, initially, Ballmer and this frog-faced twonk Elop cooked up some big “top-secret plan” and that, not long after it went into effect, even Ballmer T. Clown was smart enough to recognize that Nokia and its Windows Phone-based “business” wasn’t worth a plugged nickel.
As we’ve written previously, it’s “Elop, with a capital ‘F.'”
Beleaguered Nokia CEO Stephen Elop throws ‘embarrassing’ Apple iPhone across floor (with video) – March 22, 2013
Apple iPhone thrashing Microsoft’s beleaguered Nokia 10-to-1, casting pall over U.S. effort – January 25, 2013
Beleaguered Nokia axes 4,000 jobs; shifts production to Asia – February 8, 2012
The world’s worst CEO is NOT Microsoft’s Steve Ballmer, it’s Nokia’s Stephen Elop – October 19, 2012
Microsoft’s beleaguered Nokia Lumia sales fall 28 percent, North American sales cut in half – October 18, 2012
Beleaguered Nokia to axe 20% of workforce, close only plant in Finland; stock crashes – June 14, 2012
Mossberg reviews Microsoft’s Nokia Lumia 900, can’t recommend it over superior iPhone 4S – April 5, 2012
Beleaguered Nokia axes another 3,500 people; trims manufacturing operations – September 29, 2011
Beleaguered Nokia to shed 7,000 employees – April 27, 2011
Beleaguered Nokia to axe up to 800 jobs in Finland – December 14, 2010