Nokia CEO berated by shareholders during investors call - PC Retail

Nokia CEO berated by shareholders during investors call

Investors criticise CEO Elop over Nokia's failings in the smartphone market, and inability to compete with rivals Apple and Samsung
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Angered shareholders have vented their frustrations towards Nokia CEO Stephen Elop over his alleged failings of running the firm.

During Nokia's annual investors call, investors accused Elop of damaging the company by remaining a Windows-only business.

"You're a nice guy ... and the leadership team is doing its best, but clearly, it's not enough," shareholder Hannu Virtanen told Elop, reports Reuters. "Are you aware that results are what matter? The road to hell is paved with good intentions. Please switch to another road."

Meanwhile, The Wall Street Journal reports that a different shareholder "asked Mr. Elop why Samsung is achieving what the investor characterised as ten times better results than Nokia."

Elop has suffered a turbulent time as CEO of Nokia, having famously authored the "burning platform" memo back in 2011, which emphasised the need for change within the firm.

Nokia continues to suffer in the market, struggling to match the consumer demand experienced by rivals Apple and Samsung – a move that investors believe to be a result of the firm's reluctance to move beyond its relationship with Windows and its own Lumina smartphones.

However, Elop remained optimistic over the firm's future and its high-end Lumina devices.

"We make adjustments as we go. But ... in today's war of ecosystems, we've made a very clear decision to focus on Windows Phone with our Lumia product line," continued Elop, according to Reuters.

"And it is with that that we will compete with competitors like Samsung and (Google's operating system) Android."

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