NOKIA next CEO Kallasvuo next June to replace Ollila

NOKIA China Chairman Kang will take office next year

NOKIA, the world's largest mobile phone maker announced Monday that the company's current CEO, he will leave Yomar in June next year, he will be replaced by NOKIA Chinese company chairman Kang Peikai.

Finland mobile communications giant said in a statement, at the age of 54, he will resign as chairman and CEO in the June 1, 2006 position, but still served as non-executive chairman of the company.

At the same time, the 52 year old Kang Peikai will replace Ollila as the company's new CEO, Mr Kallasvuo is currently in charge of NOKIA's largest mobile phone division.

Ollila in Finland is considered as the company of heroes, is that he will change the original NOKIA production of rubber boots and cable industry group as the world's leading mobile phone manufacturers. Under his leadership, NOKIA's revenue grew by 10 times in 2000, the stock has soared to become Europe's highest market value of the company.

Mr Kallasvuo has worked for NOKIA for 25 years, he served as chief financial officer for 10 years, was appointed in January last year, the head of mobile phone division, executive vice president, earlier this year and served as chairman of the company Chinese.

Nordea KarriRinta analyst CEO welcomed Mr Kallasvuo as: "I think he is a suitable candidate, in recent years he has experienced the different positions of experience, is clearly in the class to prepare to meet Ollila."

NOKIA also said that the company's current president Pekaara Piedira will also be for "personal reasons" departure in February 1st next year, in October 1st this year will be the first back skin EDI Rama served as an adviser to the company.

Although the evaluation of the outside world Kallasvuo is very high, but the coach is still a lot of challenges ahead. In the second quarter of this year, NOKIA in Asia and the United States under the pressure of competitors, market share has declined. Last month, the company is to lower the earnings forecast for the third quarter, investors feel great surprise.

Although demand is still strong, but mainly from the low-end markets in Asia and Eastern Europe, where cheap mobile phones are popular, and can not bring much profit for the company. NOKIA believes that this trend will continue for quite a long period of time, the problem how to deal with the mobile phone prices really need big brains. Kallasvuo.