Nokia Corp. said Monday that Olli-Pekka Kallasvuo, who heads its industry-leading mobile phone business group, will become chief executive when its longtime CEO Jorma Ollila steps down next June.
As part of a succession plan, Kallasvuo will become president and chief operating officer effective Oct. 1. He will succeed president Pekka Ala-Pietila who is resigning "to pursue personal interests." Ala-Pietila will become executive adviser at that time and will leave the company on Feb. 1.
Nokia said it plans to name Ollila, 54, who is also its chairman, as non-executive chairman after June 2006, and said Ollila confirmed that he is available for that position. Kallasvuo, 52, previously served as chief financial officer.
"The Nokia board has had in place a succession process in anticipation of Jorma Ollila's retirement with the objective of maintaining vitality, adapting to a rapidly evolving industry, and ensuring continuity," said Paul Collins, vice chairman, in a statement.
