Nokia to replace new masters

Report (reporter Gu Xiaoyu) yesterday, the world's largest mobile phone manufacturer Nokia announced that its current president and chief executive Kallasvuo will step down on September 20, and the original Microsoft executive Elop will replace him as Nokia's new boss. Kallasvuo joined Nokia since 1980, and has since been an assistant vice president, Senior vice President, chief Financial officer, executive vice president, and in 2006 as President and CEO of the company, has been working in Nokia for 30 years. Under Kallasvuo's service contract with Nokia, he will receive a € 4.6 million severance payment equivalent to 18 months of basic salary and bonuses.　　In addition, he received compensation for the 100,000-share Nokia restricted shares awarded to him in 2007 and will be honoured by October 1, 2010. Nokia has been underperforming in the high-end smartphone market for nearly two years, and its market share has been repeatedly invaded by companies such as Apple and rim, especially since Apple launched its iphone in 2007, Kallasvuo has been blamed for failing. Nokia's share of the handset market has fallen from 36.8% a year ago to 34.2%, according to Gartner, a market-research firm.　　The unsatisfactory performance also makes the news that Kallasvuo will leave this year has never been interrupted. Elop, a successor to Kallasvuo, was previously president of Microsoft's Business software division, who will take office on September 21. Jorma, chairman of Nokia's board of directors, said that Stephen's outstanding industry experience and leadership will drive Nokia's full release of its potential, his strong software background and outstanding performance in change management, a valuable asset to the accelerated transition of Nokia.