Nokia replaces CEO Kallasvuo with Microsoft’s Stephen Elop

InvisibleSHIELD.  Scratch Proof your iPhone 4!“Nokia Corp. said it was replacing embattled Chief Executive Olli-Pekka Kallasvuo with Microsoft Corp.’s Stephen Elop, as the world’s largest handset maker seeks to reverse steep declines in earnings and market share that have decimated its share price,” Christopher Lawton and Gustav Sandstrom report for The Wall Street Journal.

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“‘The time is right to accelerate the company’s renewal,’ Nokia’s Chairman Jorma Ollila said in a statement. ‘The Nokia Board believes that Stephen has the right industry experience and leadership skills to realize the full potential of Nokia,'” Lawton and Sandstrom report. “Mr. Elop, the 46-year old head of Microsoft’s business division, is scheduled to start on September 21.”

“‘My role as leader of Nokia is to lead this team through the period of change, take the organization through this period of disruption…to meet the needs of its customers, while delivering superior financial performance,’ Mr. Elop said at a news conference in Helsinki,” Lawton and Sandstrom report. “Mr. Elop’s main task will be to develop a credible challenger to Apple Inc.’s iPhone, something Mr. Kallasvuo failed to achieve during his four-year tenure. Many analysts feel that Nokia was caught flat-footed by the iPhone’s success and blame its weakness in smartphones for shaving about 70% off [about US$90 billion] of Nokia’s market value over the past three years.”

Read more in the full article here.

MacDailyNews Take: Clueless. In fact, Alicia Silverstone would have a better chance of turning Nokia around.

32 Comments

  1. After Microsoft’s incredible success in the smartphone sector, that’s he first place I’d look for someone to revive Nokia’s smartphone plans.

    Clue, all of Nokia’s future smartphone plans will revolve around Windows Phone 7. The poor bastards.

  2. Why not just hire Ballmer? Sheesh. Did some elected Nokiatard sit in the boardroom and say “Hey team, we need to hire THE BEST.. (the team in silence) There’s only one person that has the wisdom, foresight, and creativity to crush Apple and return Nokia to it’s glory days of cheap flip-phone world dominance…Stephen Elop!” (board room still silent).

  3. Yes, because former Microsoft executives clearly have the requisite experience to make for a successful Smartphone business. Very logical.

    Good luck Elop. Better make sure your reserve chute works.

  4. …as the world’s largest handset maker seeks to reverse steep declines in earnings and market share that have decimated its share price,\…

    Did this morons not look at Microsoft’s market cap over the past couple of years???

    Nokia puts the B back in dumb.

  5. Fire the clueless and hire the dumb, and clueless.
    It’s not about building a phone to compete with the iPhone anymore to out play Apple and get a leg up you’ll have to reinvent the smartphone idea all over again. Anyone can put out a knock-off but a knock-off it’s going to pull any cell phone maker out of it hole for long it at all. As Nokia hired a former Microsoft spud, look for future Nokia smart phones to be using Windows Phone 7 and not Nokia’s Symbian OS. After all Elop’s first loyalty is to Microsoft and not Nokia. One of Elop’s first big Act’s will be signing an exclusive multi-year multi-billion dollar deal with Microsoft to provide Windows Phone software to Nokia for all of it’s future smart phones. The contract will require Nokia to play for a Windows Phone License even on phones shipped with Nokia’s own Symbian OS installed.

    Elop might last 6 months at Nokia before they replace him too.

  6. Lets see, “My role as leader of Nokia is to lead this team through the period of change, take the organization through this period of disruption…to meet the needs of its customers, while delivering superior financial performance,”

    means milking more money from our unsuspecting customers… without really giving them what they want…..

    or is that just me… ” width=”19″ height=”19″ alt=”grin” style=”border:0;” />

    Just a thought,
    en

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