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Nokia names Microsoft's Elop as president and CEO

Posted: 14 Sep 2010 ?? ?Print Version ?Bookmark and Share

Keywords:Stephen Elop? management? mobile communications?

Stephen Elop has been named as Nokia Corp's incoming president and CEO by the company's board of directors. Elop, currently heading the business division of Microsoft Corp., will take on the position beginning September 21, 2010.

Jorma Ollila, chairman of the board of directors. Nokia, explained that "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."

Elop, in turn, expressed his excitement at becoming 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." He added that "Nokia has a unique global position as well as a great brand upon which we can build. 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."

Prior to his stint at Microsoft, Elop held senior executive positions in Juniper Networks, Adobe Systems Inc. and Macromedia Inc. He holds a degree in computer engineering and management from McMaster University in Hamilton, Canada, which is his home country.

Current president and CEO Olli-Pekka Kallasvuo will leave his position on September 20, 2010. He will continue to chair the Board of Nokia Siemens Networks in a non-executive capacity.

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