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Nokia chairman expected to stay on until 2012

ICT Desk |
Update: 2010-09-15 02:20:17
Nokia chairman expected to stay on until 2012

Nokia Corp. said Tuesday that board chairman Jorma Ollila has signaled readiness to stay on at the helm of the world`s leading handset maker until 2012.

Nokia spokeswoman Arja Suominen said that no announcement had been made but that Ollila has said he would be "at the disposal of the company" until the annual general meeting of the company in spring 2012.

Last week, Nokia said that CEO Olli-Pekka Kallasvuo will be replaced by Stephen Elop, who heads Microsoft`s business division, as president and chief executive on Sept. 21.

At a news conference introducing Elop, Ollila said the board had asked him to stay on as chairman for a transitionary period.

"The board did want me to continue because this is a particularly difficult time. My time will be up soonest," Ollila told reporters on Sept. 10, but added that "no time set."

Nokia`s announcement Friday came after its stock had continued to plunge — down more than 20 percent this year after two profit warnings — and the company`s management had come under increasing pressure.

BDST: 2215 HRS, 15 September 2010

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