Nokia's Search for a New CEO Narrows to Two Insiders
Published on: 19th Jan 2014
Nokia's long search for a new CEO is reportedly focusing on several inside candidates although the firm is still open to an outsider joining the firm.
When Nokia announced the deal to sell its handsets division to Microsoft, the group CEO, Stephen Elop stood down from the role, although he remains the head of the handsets business and will move with it to Microsoft.
As such, Nokia has been looking for a new group-wide CEO.
Rajeev Suri,, the head of the NSN division, which will be generating over 90% of Nokia's revenues following the sale of its handset has been named as a likely candidate.
Nokia's Finance Chief, Timo Ihamuotila has also been considered, an unnamed source told Bloomberg News. External candidates have not been ruled out, although the race appears to be narrowing to the two internal candidates.
The new CEO is expected to be named once the handset sale to Microsoft is completed, which is expected by the end of March, subject to the final regulatory clearances being secured.
Whoever takes up the role is likely to have their pay and compensation carefully scrutinized following the controversy over Stephen Elop's US$25 million payout following the handset sale announcement.
On the web: Bloomberg News