Despite net profits slumping by 63% and earnings per share dropping by 40% in the last year, Nokia’s CEO, Olli-Pekka Kallasvuo is tenaciously hanging onto his position and has demanded that all speculation on his position is buried.
Speaking at the…
Despite net profits slumping by 63% and earnings per share dropping by 40% in the last year, Nokia’s CEO, Olli-Pekka Kallasvuo is tenaciously hanging onto his position and has demanded that all speculation on his position is buried.
Speaking at the release of the group’s second-quarter results he told CNBC: “Obviously there has been a lot of speculation on my position … This speculation is detrimental. It’s not good for Nokia and I feel it needs to be brought to an end one way or the other.”
However, when pressed on whether he would remain as CEO, Kallasvuo said that that was a matter for Nokia’s chairman, Jorma Ollila.
Nokia is quickly becoming an also-ran in the smartphone race, dropping into the slipstream of Apple and Google. Second-quarter net profits were E104m, down from E287m in the same period last year. Sales were up 1% to E10bn.
By contrast, earlier this week Apple announced revenues of US$15.7bn for its last quarter, a jump of 61%.
