Nokia looking for a new CEO?


The Wall Street Journal is reporting that Nokia is on the lookout for a new CEO to replace Olli-Pekka Kallasvuo, also known as OPK. The company, the largest cellphone manufacturer in the world, has seen its market share drop steadily in recent quarters in the face of stiff competition from companies such as Apple and RIM and devices powered by Google Android.

“They are serious about making a change,” one person familiar with the matter said. Nokia board members are “supposed to make a decision by the end of the month,” that person said.

While Nokia still has about a 40 percent share of the cell phone market, 2010 has been a tough year for the company. It announced a reorganization in May and lowered its 2010 forecast back in June with the expectation that mobile device sales will remain flat compared to 2009.

Nokia is looking to turn things around with the introduction of a new version of Symbian later this summer and new smartphones powered by Meego. Will OPK be around to see if it’s enough remains to be seen.

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