Just days after reporting that Chief Executive Olli-Pekka Kallasvuo would depart Nokia (NOK) to be replaced by Steven Elop, formerly a divisional president at Microsoft, there is more news of change at the top.
Anssi Vanjoki, head of Nokia Corp.'s mobile solutions division has announced that he is leaving the company. The company's mobile phone business has been under pressure from rivals Research in Motion, makers of the Blackberry and Apple's with the iphone.
Investors seem pleased with the actions. Nokia stocks are up 3.8% since the Friday announcement, that number getting an assist with 1.9% of the gain coming on Monday. J.P. Morgan endorsed the hiring of the former Microsoft exec, speculating that Nokia will benefit from his experience in the software business. Market analyst Rod Hall advised clients "We believe one of Nokia's key problems has been the management of large software development projects associated with new smartphone platforms like Symbian,".
