Nokia Executive VP Anssi Vanjoki has announced he is resigning from the worlds largest cell-phone maker. Hell stay on for another six months.
The shake-up follows last weeks news that Nokia fired CEO Olli-Pekka Kalaasvuo and replaced him with Stephen Elop, formerly of Microsoft, a move some are criticizing due to Elops perceived lack of experience in this arena. However, at least one analyst, Barclays, is saying Elops software expertise is what the company needs.
Nokias executive team has a steep climb ahead of it. Its stock price and earnings have plummeted as other manufacturers have taken huge bites out of its market share. Apple seems most likely to overtake Nokia as the iPhone continues to dominate the consumer handset market.
Its interesting timing for the moves, as Nokia begins its Nokia World showcase in London tomorrow.
Nokias stock price was up 16 cents, to $10.10, as of 3 p.m. ET Monday.
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September 24 2018 @ 18:15:10 UTC