Latest in Cfo

Image credit:

Nokia plays musical execs, moves CFO to new Mobile Phones post

Chris Ziegler

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?

From around the web

ear iconeye icontext filevr