Nokia hired Stephen Elop as their new President & CEO, who has accepted the position.

And about that, Tony Cripps, Principal Analyst comments:

"The new hire is indicative of the direction that Nokia knows it must move in: namely to drive future opportunities through greater understanding and better execution around software, the internet and developer ecosystems."

Nokia's hire of Canadian Stephen Elop as its new President and CEO is indicative of the direction that Nokia knows it must move in: namely to drive future opportunities through greater understanding and better execution around software, the internet and developer ecosystems.

 

Elop's history with Microsoft and Macromedia/Adobe - in particular - should prepare him well for this challenge, although it will also be incumbent on him to keep growing Nokia's core handset business, a market he is as yet largely unfamiliar with. Balancing this requirement with the need to move Nokia forward in new areas may prove a difficult challenge to manage effectively.