Manufacturers of telecommunications giant Nokia to change the boss. Chief executive Olli-Pekka Kallasvuo was replaced by Stephen Elop who previously served as head of Microsoft Business Division.
Quoted from The Telegraph, Elop began working with his new position next 21 September. Kallasvuo will resign from the position himself on the board of directors but still contribute to the non-executive capacity of the Nokia Siemens Networks.
"The timing was right for the company to accelerate. Bringing new executive leadership with different skills and strengths in order to improve the company's success," said one head of Nokia, Jorma Ollila.
Kallasvuo speculation about a shift began to emerge this year as the company struggles in the face of heavy smartphone market.
Since Apple introduced the iPhone to market, three years ago, the cellular phone industry started to change into more complex applications. This had an impact on Nokia's growing share slump.
Nokia actually already started to follow the rhythm of the market by creating a smartphone and have to cut prices. Nokia also had to give up profits in order to maintain market share shrink.
Elop himself stated, "I am very spirit because it can combine to strengthen Nokia."
Kallasvuo has joined Nokai for more than 30 years and became chief excutive in 2006 replacing Jorma Ollila.
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