Rumors about the replacement of Chief Executive Officer of Nokia missed already. Positions previously held CEO Olli-Pekka Kallasvuo will shift into the hands of Stephen Elop.According to official information quoted by Engadget Nokia, Friday (09/10/2010), Elop who previously served as head of Microsoft Business Division, will officially become president and CEO of Nokia on 21 September 2010.
Chairman of the Board of Directors of Nokia, Jorma Ollila said, now is the right time to accelerate enterprise reform, especially for new executive leadership with different skills and strengths in order to push the company's success.
"We believe that Stephen (Elop) has the appropriate industry experience and leadership skills to realize the full potential of Nokia. His experience in bringing a change in management has been proven and this will be a valuable asset to complete the transformation of the company. We believe that Stephen will be able to encourage innovation and efficiency in order to provide increased value to our shareholders, "said Jorma.
Before joining Microsoft, Elop held senior executive positions at several public companies, including Juniper Networks, Inc., Adobe Systems and Macromedia. Elop earned a degree in computer engineering and management from McMaster University in Hamilton, Canada.
Elop himself stated very proud to be serving the new position. "I am very excited to be part of a team that is dedicated to strengthen Nokia's position as a leader in the telecommunications industry. I am confident that we can continue to provide innovative products that meet consumer needs," said Elop.
Meanwhile, Nokia express gratitude to Olli-Pekka has a thirty-year career at Motorola. "During this time Olli has been involved in developing the company and its operations. His dedication and contributions throughout the year was incredible .. the Board of Directors would like to hope he was successful in the future according to his purpose," said Jorma Ollila.
In accordance with the terms and conditions of his service contract, Olli entitled to severance payments amounting to 18 months of gross salary and incentives which totals approximately 4.6 million euros.