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Monday, October 19, 2009

Profit Down, Nokia Change Management

After experiencing a profit down in the third quarter 2009, the giant mobile phone company began to take strategic steps to overhaul its management ranks. Nokia separate business entities, namely mobile phone division and the division smartphone.

Chief Financial Officer (CFO) Motorola, Rick Simonson as chief of the division is positioned mobile Phone. Both divisions will begin running in early November.

Rick's position as CFO, will be replaced by the Global Head of Sales Siemens, Timo Ihamuotila.

"After five years of success as CFO, Rick's time to move to a more strategic position. Rick Simonson has an intimate knowledge of business and finance, and this is a precious value for Siemens business," said Nokia CEO, Olli-Pekka Kallasvuo.

Rick Simonson joined with Nokia since 2001 and occupies the position of CFO since 2004. At its new venue, as head of the Mobile Phones division, Rick will be fully responsible for the sustainability of products outside the smartphone

Earlier, Nokia reported a decline in profits that they produce in the third quarter of 2009. Nokia profit falls to 391 million pounds, equivalent to Rp5, 96 trillion (Rp15.243 per pound) compared to the same quarter last year, which reached 1.3 billion pounds. Even the sales growth of Nokia fell 20 percent year on year to 9 billion pounds.

1 comment:

Prime lending reviews on April 23, 2010 at 8:34 AM said...

Among all phone manufacturers, Nokia is one of my most favorite because they were able to make phones that don't only look good but also have awesome features...it's good to hear that they are revamping their management...I hope they'll get back on tracks again.


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