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Nokia appoints Microsoft man as new CEO
Business Digest: Change comes as Nokia fails to make headway in the tough smartphone market
Telephone giant Nokia has appointed Microsoft business manager Stephen Elop as its new chief executive.
He will replace outgoing boss Olli-Pekka Kallasvuo, who is a lifelong Nokia employee and has been chief executive since 2006.
Nokia suffered a 40 per cent slump in second quarter profits, as the handset manufacturer struggles in its attempts to break into the hi-tech smartphone market, which is dominated by Apple with its iPhone 4.
Nokia chairman Jorma Ollila said of Elop: "His strong software background and proven record in change management will be valuable assets as we press harder to complete the transformation of the company."
Read a full report at BBC News
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