Espoo, Finland – Cell phone giant Nokia (NYSE: NOK) announced that it
has hired Stephen Elop, president of Microsoft’s (NASD: MSFT) business division, as its new president
and chief executive.

Current CEO Olli-Pekka Kallasvuo — who has been with the
company 30 years — will step down on Sept. 20, and remain non-executive
chairman of Nokia Siemens Networks.

"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," said Nokia chairman Jorma

"Nokia will continue to power through what is a substantial
transformation (from a hardware company to a software company)," the company

"Elop will help to accelerate that (he’s a get-things-done guy) and
his fresh eyes and ears will enable him to take a fresh look at big questions
as to that strategy is executed."


Related Links:

(Nokia blog)