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Nokia appoints Stephen Elop as new President and CEO

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Stephen Elop

 

Nokia has dropped a bomb just before Nokia World by announcing a new CEO and President. Stephen Elop who currently heads Microsoft’s Business Division will take the helm from Olli-Pekka Kallasvuo as the new President and Chief Executive Officer of Nokia Inc. from September 21. Olli-Pekka Kallasvuo who served Nokia for the past 30 years will leave the company on September 20 but will maintain his position in the Board of Nokia Siemens in a non-executive capacity.

Olli-Pekka Kallasvuo is entitled to receive a severance package that consists of 18 months of his gross salary amounting to around 4.6 million euro.

Press Release

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