Nokia taps Microsoft executive Stephen Elop as new CEO

Just four days before the start of the Nokia World global conference, Nokia Corp. has announced they will replace their current CEO, Olli-Pekka Kallasvuo, with Microsoft executive Stephen Elop. Mr. Elop was the head of Microsoft’s business division and his resume includes high-ranking positions at Juniper Networks, Adobe Systems, Macromedia, and Boston Chicken (yes, Boston Chicken). Nokia indicated that Elop would assume his newly appointed position on September 21. “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,” said Nokia’s chairman of the board Jorma Ollila. Nokia’s stock jumped 5% when the news was made public.

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