Despite Missteps, Nokia's (NOK) Elop Gets Support from Key Exec
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According to another daily news source from Finland, Nokia (NYSE: NOK) CEO Stephen Elop is garnering support from other executives.
Earlier, it was noted that Elop admitted to Nokia being late in response to rapidly changing market conditions, costing the company profits and leading to further jobs cuts.
The Helsingin Sanomat is reporting today that Chairman Risto Siilasmaa praised Elop following warnings issued just two weeks ago, saying, "Thanks to Stephen Elop and others, we have been able to get new phones with new operating systems faster into the market than ever before." He noted how Elop's style has been good and transparent.
The Chairman also said Nokia has a contingency plan in place should Microsoft (Nasdaq: MSFT) Windows Phone not pan out, though he's confident WP will be a success.
Of note, Siilasmaa took the chairman role just last month, having been elected in January.
It should be noted that Nokia shares have fallen over 80 percent since Elop took control in 2010. Shares are off about 3.4 percent heading into Thursday afternoon trading.
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Earlier, it was noted that Elop admitted to Nokia being late in response to rapidly changing market conditions, costing the company profits and leading to further jobs cuts.
The Helsingin Sanomat is reporting today that Chairman Risto Siilasmaa praised Elop following warnings issued just two weeks ago, saying, "Thanks to Stephen Elop and others, we have been able to get new phones with new operating systems faster into the market than ever before." He noted how Elop's style has been good and transparent.
The Chairman also said Nokia has a contingency plan in place should Microsoft (Nasdaq: MSFT) Windows Phone not pan out, though he's confident WP will be a success.
Of note, Siilasmaa took the chairman role just last month, having been elected in January.
It should be noted that Nokia shares have fallen over 80 percent since Elop took control in 2010. Shares are off about 3.4 percent heading into Thursday afternoon trading.
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Apple will buy Nokia
Genius on Jun 28, 2012 03:41 PMMark as Spam | Reply to this comment
Apple will buy Nokia since they already pay Nokia more money in licence fees then the cost to buy the hole Nokia and get Nokia Siemens for free, get Nokia Maps for free, rename it to iMap and get license money from Microsoft.