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Friday, May 14, 2010

Financial Times, Wall Street Journal

Nokia has launched a drastic management overhaul involving the merger of its smartphone and mobile services businesses into a single unit that is expected to concentrate on developing a product to rival the iPhone. “We have a clear direction. We know where we are going. But we have had difficulties with execution at times,” CEO Olli-Pekka Kallasvu told FT, adding that the new structure would give Nokia “more flexibility and responsiveness” in a rapidly changing industry. Nokia said Rick Simonson, who took over the mobile-phone unit about seven months ago, seen by some as a potential CEO successor, has decided to retire from his full-time duties for “personal reasons”. Nokia’s current chief development officer Mary Mcdowell will take over Simonson’s position in June.

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