Nokia 'seeks new CEO'

Sources suggest the phone maker is looking to replace current chief exec Olli-Pekka Kallasvuo
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Nokia is on the hunt for a new CEO as it struggles to keep up with rivals in the high-end smartphone sector, reports suggest.

Sources told the Wall Street Journal that the Finnish firm was “serious about making a change” and that board members are “supposed to make a decision by the end of the month”.

The new chief executive would replace current Nokia CEO Olli-Pekka Kallasvuo, who has held the position since 2006.

The CEO of a major US tech firm is said to have turned down the job after meeting with Chairman Jorma Ollila, because it would involve moving to Finland. The WSJ’s source said the firm has also has interviewed at least one other US-based exec for the job.

While Nokia is the leader in terms of mobile shipments, it has slipped behind in the top-end smartphone stakes, while Apple and makers of Android-based devices have stormed ahead.

After posting disappointing results in May, Nokia reshuffled its top brass, creating a department specifically responsible for smartphones.

The firm is due to unveil its latest financial results on Thursday.

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