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Microsoft exec Elop named Nokia CEO

Microsoft exec Elop named Nokia CEO

Stephen Elop, president of the Microsoft Business Division, is leaving the software giant to become chief executive of Nokia as the phone maker seeks to become a software company.

Nokia said in a press release late Thursday it has hired Elop to replace Olli-Pekka Kallasvuo, who will leave his position as CEO on September 20. Kallasvuo, a 30-year Nokia veteran, will also leave the company’s board but remains 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,” Nokia Chairman Jorma Ollila said in a statement.

Elop will implement but not change Nokia’s fundamental turnaround strategy, Nokia said on its Web site Friday.

Read More/Source: C|Net

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