Nokia revamps top management

HELSINKI: Finland's Nokia, today announced a shake-up of top management and a revamp of its structure, including naming a new chief financial officer, in a bid to shore up its position as the world's largest mobile phone maker.

The company split into four divisions from the current three and named a new head for its core mobile phones division.

Nokia said Rick Simonson would be the new CFO, replacing Olli-Pekka Kallasvuo. Kallasvuo in turn would lead Nokia Mobile Phones, replacing Matti Alahuhta.

The Mobile Phones and Networks will remain as before, but Nokia's Ventures unit is now gone, replaced by Multimedia and Enterprise Solutions divisions.

Servicing all of these divisions will be six units: sales; marketing; logistics; manufacturing; technology; and, corporate strategy, development and research.

Chief Executive Jorma Ollila, who has been at the helm throughout Nokia's rise to become the top mobile phone player, will remain as chairman of the company's group executive board.

"With the changes, Nokia will address emerging new business areas in the world of mobility, while continuing to build on its leadership in mobile voice communications," Nokia said in a statement.

© Reuters