Nokia has appointed Microsoft’s Stephen Elop as its CEO in a bid to turn around its fortunes in the smartphone market.
Elop, formerly president of Microsoft’s business division, will replace Olli-Pekka Kallasvuo following next week’s Nokia World conference, at which the company is expected to map out its strategy for the next year.
Jorma Ollila, chairman of the Nokia board of directors, said, “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 official Nokia statement also indicated that Elop will be tasked with improving Nokia’s fortunes in the high-end smartphone market and its Ovi strategy.
“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,” added Ollila.
Kallasvuo will remain as chairman of the board of directors of Nokia Siemens Networks and has overseen the launch of Nokia’s mobile content and services strategy under the Ovi brand.
However, in recent years Nokia has also lost ground in the high-end smartphone market, where Apple and devices using Google’s Android operating system are increasingly dominant (nma.co.uk 13 August 2010).