Nokia implements succession plan with appointment of new President, COO and CEO
Posted on 1-Aug-2005 23:07
Filed under: News
Nokia's Board of Directors has appointed Olli-Pekka Kallasvuo, 52, President and Chief Operating Officer effective 1 October 2005, and President and Chief Executive Officer from 1 June 2006. Mr. Kallasvuo joined Nokia in 1980 and currently heads the Mobile Phones business group. Prior to this he worked as the company's Chief Financial Officer.
Newly appointed President, and future CEO Olli-Pekka Kallasvuo says: "It is a privilege to be offered this position. Nokia is a dynamic company in a fast-changing and fluid environment. I look forward to working together with our team to help Nokia shape the future of mobile communications at a pivotal time for the industry. Together we will continue to create great products and solutions that will delight our customers."
The Corporate Governance and Nomination Committee of the Board of Directors will propose to the next annual general meeting that Chairman and Chief Executive Officer Jorma Ollila, 54, continues after 1 June 2006 as Non-Executive Chairman. The Committee has received Mr. Ollila's confirmation that he is available for this position.
Nokia's current President, Pekka Ala-Pietila, will resign to pursue personal interests. He will take on the role of Executive Advisor as of 1 October 2005 and leave Nokia on 1 February 2006.
Paul Collins, Vice Chairman of the Nokia Board, says: "The Nokia Board has had in place a succession process in anticipation of Jorma Ollila's retirement with the objective of maintaining vitality, adapting to a rapidly evolving industry, and ensuring continuity. The Board is convinced that Olli-Pekka Kallasvuo, with his strong industry credentials and over 20 years
of experience at Nokia, will provide the required leadership for the Company in the future."
"Jorma Ollila, our CEO for over 13 years and Chairman for over 6 years, has built the modern Nokia that we know today. Therefore we are pleased that Mr. Ollila has agreed to remain as the Chairman of the Board. This will provide for an orderly transition while giving the Company access to his understanding of our business, our industry and its challenges and opportunities."