Nokia today announced that Stephen Elop will step down as the company’s CEO and President in the wake of the acquisition of its handset business by Microsoft. Elop will assume the role of EVP of devices and services business. Risto Siilasmaa will assume an interim CEO role for Nokia while continuing to serve in his role as Chairman of the Nokia Board of Directors. Also Read - Former Nokia boss Stephen Elop among 4 senior executives leaving Microsoft in a major organizational shakeup
“To avoid the perception of any potential conflict of interest between now and the pending closure of the transaction, Stephen Elop will step aside as President and CEO of Nokia Corporation, resign from the Board of Directors, and will become Executive Vice President, Devices & Services,” the company said in a statement. Also Read - Here's Stephen Elop's memo to Nokia employees on new device strategy under Microsoft
Nokia head of design, Marko Ahtisaari will assume the role of EVP of design but will leave Nokia on November 30. “Mr Ahtisaari has decided to again pursue entrepreneurial opportunities. He will step down from the Nokia Leadership Team and his position as Executive Vice President, Design, effective as from November 1, 2013. He will continue to work on activities related to the transaction through November 30, 2013. Effective November 1, 2013 Stefan Pannenbecker will start leading Design, reporting to Mr. Elop,” Nokia said. Also Read - Stephen Elop's golden parachute increases by 25% to $33 million
Nokia expects Jo Harlow, Executive Vice President, Smart Devices; Juha Putkiranta, Executive Vice President, Operations; Timo Toikkanen, Executive Vice President, Mobile Phones; and Chris Weber, Executive Vice President, Sales and Marketing to join Elop and transfer to Microsoft once the acquisition is completed.