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This is an archive article published on August 2, 2005

Kallasvuo to succeed as Nokia CEO

The world’s top mobile handset maker Nokia said on Monday that Olli-Pekka Kallasvuo would take over as CEO next year when Jorma Ollila ...

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The world’s top mobile handset maker Nokia said on Monday that Olli-Pekka Kallasvuo would take over as CEO next year when Jorma Ollila steps down from the post.

Kallasvuo, 52, becomes president and COO from October 1, 2005 and takes over as CEO from June 1 when Ollila will become non-executive chairman.

The company said in a statement Ollila would continue in his current roles as chairman and CEO before moving to the non-executive position, to ensure an orderly transition.

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Kallasvuo currently heads Nokia’s Mobile Phones business group and was formerly chief financial officer.

Nokia shares dipped on the news and were trading 0.3 per cent lower at 13.13 euros by 1044 GMT.

‘‘I would think the overall impression of Kallasvuo is positive, he has had various responsibilities in the last few years — sort of preparing him for this position,’’ said Karri Rinta, analyst at Nordea.

Ollila, 54, joined Nokia in 1985 and took over as the head of the company in 1992, steering it to the top of the mobile phone world.

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‘‘I remain strongly committed to Nokia and am keen to continue contributing to Nokia’s strategy and renewal, helping it to build on its position as the undisputed leader in mobility,’’ he said in the statement.

Earlier this year he said he believed his successor should come from within the group and that discussions were expected on the position later in 2005.

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