Nokia Announce New Microsoft CEO

Reports in today have told us of the departure of Nokia’s CEO “Olli-Pekka Kallasvuo” and replaced with “Stephen Elop”, the president of Microsoft’s Business division. The change in positions has been put down to the mobile company having to work a lot harder to keep up to speed with its competitors such as Apple and Google. When the iPhone and Google’s Android platform were released, Nokia saw a drop in profits to 40%.

According to Ben Parr at Mashable, it is hoped that by bringing in Elop, he may help to drive Nokia forward by using his existing skills and expertise. Nokia have commented that “They believe that Stephen has the right industry experience and leadership skills to realize the full potential of Nokia”. The new CEO had been with Microsoft since January 2008 and was responsible for overseeing such things as Microsoft Office and Microsoft Dynamics.

Reports indicate that Kallasvuo will step down from his current CEO position on September 20, to make way for Elop. Not only will he be stepping down from position of CEO but also from the Board of Directors. We have been told that Kallasvuo will be receiving some 4.6 million euros in severance and the market value of 100,000 in Nokia shares (around $1 million in value)

Judging by profits that have soared with Microsoft Office, do you think Nokia have made a wise decision with Stephen Elop? Give us your comments below. To check out more on this log onto Mashable