20 July 2010

Investors Lose Patience:
Nokia Conducting Search For A New
CEO To Replace Olli-Pekka Kallasvuo!??

With 40% global market share, the Finnish company remains the world's largest cellphone marker, but has struggled to keep pace in the smartphone market against well entrenched rivals such as Microsoft and Research In Motion and especially against newcomers such as Apple Inc.'s iPhone and numerous phones based around Google Inc's Android platform, not to mention Palm which is here since the beginning and keeping the pressure on too.

In a response to this growing competition within the mobile business, according to a report in the Wall Street Journal that cites "people familiar with the situation" Olli-Pekka Kallasvuo may be in his last days as CEO of Nokia Corp. as he struggles to find traction for the company in the market for high-end smartphones.

Olli-Pekka Kallasvuo is the President and Chief Executive Officer of Nokia Corporation and Chairman of the board of directors for Nokia Siemens Networks, a joint venture between Nokia and Siemens AG.

Kallasvuo joined Nokia in 1980 as Corporate Counsel, and has held roles of increasing responsibility since that time. In 1987 he was appointed Assistant Vice President, Legal Department, and in 1988 he was named Assistant Vice President, Finance. In 1990 he was promoted to Senior Vice President, Finance.

Since 1990 Kallasvuo has been a member of the Group Executive Board of Nokia. In 1992, Kallasvuo was named Executive Vice President and Chief Financial Officer. In 1997-1998 he served as Corporate Executive Vice President, Nokia United States, being responsible for all Nokia's business operations in the US.

He returned to the position of Chief Financial Officer at the beginning of 1999, the position he had held prior to moving to the United States. From 2004–2005 Kallasvuo was Executive Vice President and General Manager of Mobile Phones. On October 1, 2005 he was named President and COO before his appointment to the current position, Chief Executive Officer on June 1, 2006.

Nokia has also replaced a top handset executive couple of months ago and said it will carve out a business unit focused on smartphones, part of a broader management shuffle as the cellphone maker battles fierce competition in the premium handset market so it is not suprising that OPK copunts its last days on CEO position

Five things to know about Olli-Pekka Kallasvuo

1. His first mobile phone weighed five pounds.
2. He currently uses the Nokia E71.
3. His favorite book is "Catch-22."
4. His role model is former Finland President Martti Ahtisaari, winner of the 2008 Nobel Peace Prize.
5. The company he most admires is Procter & Gamble.