EN: Nokia appoints new President and CEO
It seems the rumours from July were true - Nokia announced the appointment of Stephen Elop as President and Chief Executive Officer of Nokia as of September 21. He will replace Olli-Pekka Kallasvuo, who will leave with 18 months gross base salary and target incentive which totals approximately 4.6 million euro. He will also receive as compensation the fair market value of the 100 000 restricted Nokia shares granted to him in 2007, which vest on October 1, 2010.
Elop currently heads Microsoft's Business Division. Before joining Microsoft, Elop held senior executive positions in a number of US-based public companies, including Juniper Networks, Adobe Systems Inc. and Macromedia Inc. He holds a degree in computer engineering and management from McMaster University in Hamilton, Canada, which is his home country.
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