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  5. Nokia CEO sacked, Microsoft’s Elop steps in

Nokia CEO sacked, Microsoft’s Elop steps in

Nokia CEO sacked, Microsoft’s Elop steps in

The under-fire Chief Executive of Nokia Olli-Pekka Kallasvuo has been dismissed, as the company looks to arrest its ongoing decline in market share.

Mr Kallasvuo, whose position was coming under increasing pressure in recent months, will leave the Finnish phone maker on September 20th.

Taking his place at the company is Stephen Elop, currently incumbent in the role of head of Microsoft’s business wing.

Mr Kallasvuo’s departure comes amid vociferous criticism of Nokia’s strategy and a slide in its share prices that has wiped off two thirds of its market capitalisation since 2007.

Prior to joining Microsoft, where Mr Elop’s primary responsibility was its Office software, he had occupied positions at Abobe and Juniper Networks.

Nokia stated: "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 realise the full potential of Nokia.”

Nokia’s loss of market primacy in recent years has been attributed to its failure to capitalise on the explosion in demand for applications and the rise of rival operating systems, principally Google’s Android platform.

Mr Kallasvuo had been due to deliver a keynote address at the Nokia World developers expo in London on September 15th. The event is due to feature the launch of the firm’s flagship phone for 2010, the Nokia N8.

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