Nokia conducting search for new CEO : Report
Mobile phone maker Nokia Corporation has launched a search to replace current chief executive Olli-Pekka Kallasvuo, who has been struggling to mark a place for the company in high-end smartphone market, says a media report.Updated: Jul 20, 2010 13:31 IST
Mobile phone maker Nokia Corporation has launched a search to replace current chief executive Olli-Pekka Kallasvuo, who has been struggling to mark a place for the company in high-end smartphone market, says a media report.
Attributing to people familiar with the situation, the Wall Street Journal reported that Nokia has launched a search for a new chief executive.
The move comes as Kallasvuo struggles to find traction for the company in the market for high-end smartphones.
"They are serious about making a change...Nokia board members are supposed to make a decision by the end of the month," the report quoted one person familiar with the matter as saying.
While Nokia continues to sell more cellphones than any other manufacturer with 40 per cent market share, it has failed to keep up with advances by rivals such as Apple Inc, the report noted.
According to the publication, Nokia US-based spokesperson Laurie Armstrong said the company would not comment on speculation.
The CEO of one major US high-tech company had spurned Nokia's approach after meeting with Chairman Jorma Ollila, because that candidate had not been keen on moving to Finland, the report said.
Nokia had also flown in at least one other US-based executive to interview for the job, it added.
Kallasvuo has held the CEO job since 2006, the year before Apple introduced the iPhone and roiled the market for mobile phones. The company has stumbled several times in its efforts to catch up.
The company is scheduled to report earnings on Thursday.
First Published: Jul 20, 2010 13:27 IST