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Nokia Chairman May Step Down in 2012

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Nokia's Chairman Jorma Ollila has confirmed that he will stay with the company until 2012, but declined to comment on any extension beyond that date. Nokia spokeswoman Arja Suominen said that Ollila has said he would be "at the disposal of the company" until the annual general meeting of the company in spring 2012.

The announcement is being seen as a way of quashing speculation about any further shakeups at the company following the sudden appointment of former Microsoft executive, Stephen Elop as its new CEO. Earlier this week, the head of the company's mobile phone division, Jansii Vanjoki announced that he would leave the company next March.

Prior to joining Nokia in 1985 Jorma Ollila worked eight years in corporate banking at Citibank's London and Helsinki offices, and when he joined Nokia his tasks involved international investment deals. A year later, in 1986, Ollila found himself as head of Finance during Nokia's renewal under then CEO Kari Kairamo.

His career at Nokia continued as he was appointed as chief of the mobile phones section in 1990, and CEO two years later in 1992.

During his tenure as CEO, he was widely credited with focusing the company on mobile phones and building it into the industry's dominant company.

He remained CEO until 2006, and was appointed as its Chairman in 1999.

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Tags: jorma ollila  nokia  stephen elop