RickSimonson
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Nokia reshuffles management looking for gold
We're not alone in grumbling about Nokia. Investors are miffed -- to put it gently -- over Nokia's inability to ignite the industry (and profits) with innovative, high-margin handset sales since the launch of Apple's iPhone some three years ago. And let's not forget about that feisty upstart Google, Microsoft's revamped Windows Phone OS, or HP's new-found love for mobile devices. Investor unrest was made clear last week as Nokia shareholders gave CEO Olli-Pekka Kallasvuo an earful. But as slow moving as Nokia can be, it's not immune to the situation by any stretch. Following up on its announcement to combine services and devices, we now have details about Nokia's planned re-org, the second in seven months. The goal, as described by OPK, is as follows: "Nokia's new organizational structure is designed to speed up execution and accelerate innovation, both short-term and longer-term." The heat will be on Anssi Vanjoki (pictured) to deliver as he'll be assuming responsibility for the Mobile Solutions group on July 1st. That gives him direct control of Nokia's MeeGo Computers (led by Alberto Torres), Symbian Smartphones (headed by Jo Harlow), and Ovi Services (led by Tero Ojanpera) -- the holy trifecta that interests us the most. Mary McDowell will head the Mobile Phones unit while Niklas Savander will head up the Markets unit. The loser in all of this appears to be Richard Simonson, the former CFO currently leading the Mobile Phones unit, but soon to be retired. Full press release after the break.
Nokia plays musical execs, moves CFO to new Mobile Phones post
There's nothing quite like a dismal quarterly report to shake things up, and that's exactly what Nokia's doing after losing over $800 million in its most recent three-month period. CFO Rick Simonson is being whisked over to a new post as head of the Mobile Phones group -- concentrating on Series 30 and Series 40 handsets -- within the Devices division, while Timo Ihamuotila, who currently leads up global sales, will take over for the CFO position being vacated by Simonson. For what it's worth, the move doesn't seem like a demotion for Simonson; he'll be in charge of "strategic sourcing" for the entire Devices division and still sit on the executive board, so we're sure he'll be doing alright for himself. All things considered, there's no way of knowing whether this would've all gone down without the quarterly performance, but it makes you wonder, doesn't it?
