CEO of Finnish phone giants Nokia, Olli-Pekka Kallasvuo has finally had his replacement announced after months of speculation about his position in the company. The man to replace him is Microsoft's Business Division head, Stephen Elop.
Kallasvuo's position has been the subject of rumour for a long time due to Nokia's smartphone shares lowering against strong competition such as Google Android and Apple's iOS. The late arrival of the Nokia N8, and no real competitors in the high-end market have also likely been the CEO's downfall.
Nokia has stated 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."
Nokia is also holding a press conference in Finland later today, so expect more news on the matter later. We do know however, that Elop will be given his role on the 21st September and Kallasvuo will be working with the company until the day before. Because of this, it is expected he will still be appearing in London next Tuesday at the start of Nokia World.
Via: T3