Tag Archives: Stephen Elop

Stephen Elop Takes A Very Awkward Question, Aces It

At Nokia’s Lumia 1020 keynote, Stephen Elop had to take one of the most awkward public questions a CEO has had to take in a long time. It was a really public setting with the entire world’s tech press in attendance, and the event was also being live streamed across the world. Five minutes before the question, Ralph de la Vega, President and CEO-AT&T Mobility had been on stage, and Stephen Elop had just called AT&T a great partner.

Then comes the extremely awkward question. The lady from Forbes.com called AT&T a horrible partner, while praising Nokia’s Lumia devices. There is a lot of merit in that question, and you can see that everyone agreed with her by the cheers the question got, but what could Elop possibly say to go out of a high?

There are lots of ways that you can answer that question, after all most CEOs are also masters of saying a lot without saying anything, but I really liked how Elop tackled it.

Instead simply saying that they’ll working more closely, train more people and the usual press speak, he acknowledged a more fundamental issue. Making Lumia work is Nokia’s problem and not AT&T’s. While they might also want a third ecosystem at some level, there’s only so much they’ll do.

Elop’s answer is testament to the challenger mindset that he’s been talking about for the last few months, and it is refreshing to see a CEO being honest about a company’s challenges.

For once, Nokia had managed to knock this keynote right out of the park, and ending on such a tricky question could have taken from the experience just a little bit, but Elop handled it well, and for that he deserves credit.

One Week After Nokia World, Stephen Elop Will Be Nokia’s New CEO

An official Nokia press release has just hit the internet and it marks the change of guard at Nokia HQ, Stephen Elop will be the new President and CEO of Nokia as of September 21, one week after Nokia World ends. There have been rumours of a change in the top leadership for quite sometime now, but the timing of this announcement is what’s surprising.

One Week After Nokia World, Stephen Elop Will Be Nokia's CEONokia has also got itself a Canadian CEO, so it will be interesting to see how his way of doing business influences Nokia’s working globally. OPK is still scheduled to give the Nokia World keynote and it will be interesting to see if he goes out with a bang and a multitude of devices/announcements or makes a quiet exit and let the likes of Anssi Vanjoki take center stage. I will be at Nokia World to bring you the latest. Read on for the press release.

Nokia’s Board of Directors has appointed Stephen Elop President and Chief Executive Officer of Nokia as of September 21. Elop currently heads Microsoft’s Business Division. Before joining Microsoft, Elop held senior executive positions in a number of US-based public companies, including Juniper Networks, Adobe Systems Inc. and Macromedia Inc. He holds a degree in computer engineering and management from McMaster University in Hamilton, Canada, which is his home country.

“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. The Nokia Board believes that Stephen has the right industry experience and leadership skills to realize the full potential of Nokia. His strong software background and proven record in change management will be valuable assets as we press harder to complete the transformation of the company. We believe that Stephen will be able to drive both innovation and efficient execution of the company strategy in order to deliver increased value to our shareholders,” said Jorma Ollila, Chairman of the Nokia Board of Directors.

Elop commented on his new Nokia position: “I am extremely excited to become part of a team dedicated to strengthening Nokia’s position as the undisputed leader of the mobile communications industry, with a relentless focus on meeting the needs and expectations of customers. Nokia has a unique global position as well as a great brand upon which we can build. The company has deeply talented and dedicated people, and I am confident that together we can continue to deliver innovative products that meet the needs of consumers. The Nokia slogan clearly states our key mission: Connecting People, which will acquire new dimensions as we build our portfolio of products, solutions and services.”

Olli-Pekka Kallasvuo will leave his current position as President and CEO of Nokia on September 20, 2010 and his position on the Nokia Board of Directors with immediate effect. He will continue to chair the Board of Nokia Siemens Networks in a non-executive capacity.

“The whole Board of Directors joins me in thanking Olli-Pekka for his thirty years at Nokia, during which he has been deeply involved in developing the company and its operations. His dedication and contribution throughout the years has been exceptional. The Board wishes him every success in his future pursuits,” says Jorma Ollila.

In accordance with the terms and conditions of his service contract, Kallasvuo is entitled to a severance payment consisting of 18 months gross base salary and target incentive which totals approximately 4.6 million euro. He will also receive as compensation the fair market value of the 100 000 restricted Nokia shares granted to him in 2007, which vest on October 1, 2010.