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Recently-appointed Nokia (NOK -3.2%) chairman Risto Siilasmaa says embattled CEO Stephen Elop...

Recently-appointed Nokia (NOK -3.2%) chairman Risto Siilasmaa says embattled CEO Stephen Elop has the board's full confidence, according to Finnish paper Helsingin Sanomat. Ex-chairman Jorma Ollila defended Elop last month. The remarks come on a day when Nokia shares are slipping towards 16-year lows.
Comments (9)
  • SSGAJ
    , contributor
    Comments (151) | Send Message
     
    It is time to give him all the support he needs, from everyone who has a lot to loose if Nokia does not come back strong.
    28 Jun 2012, 02:36 PM Reply Like
  • harakeh
    , contributor
    Comments (2) | Send Message
     
    What is wrong with Nokia's board, the firm is in heavy financial distress and investors have zero confidence in its policy. I don't get it anymore. Nokia's board seems to be a naive stupid club that is totally not interested in the interests of its equity holders.
    They should be concerned about Nokia's cost of capital which is only increasing, profitable future projects are becoming less and less likely, and the liquidation of the company is coming closer and closer. How can they be so optimistic, end of Nokia is nearby.
    (excuse me for my bad English)
    28 Jun 2012, 03:13 PM Reply Like
  • mr wonder
    , contributor
    Comments (546) | Send Message
     
    I believe the new board of Nokia is doing the right thing. Restructure the company to decrease operating expenses. Cooperate with MSFT in order to further improve the best possible integrated OS. Increase investments in camera research, mapping services, network services and expand distribution in new economies. Please, explain yourself, tell me what would Nokia do to make things right?
    28 Jun 2012, 03:42 PM Reply Like
  • richbar
    , contributor
    Comments (790) | Send Message
     
    The only thing I would change about your comment is to change "English" to "reasoning".
    28 Jun 2012, 04:42 PM Reply Like
  • teejii
    , contributor
    Comments (61) | Send Message
     
    Since the operators and customers got a little upset about the non-existing patch between WP7 -> WP8, it's now up to Microsoft to deliver. And WP8 has been rumored to be late. They're probably not going to sell that much WP7 hardware anymore... as the waiting game goes on. Personally I think MSFT could end up buying NOK in the end (bunch of phone patents + location service + knowledge in hardware tech), but it won't be in any hurry to do it.

     

    To me this whole thing has been the weirdest thing in corporate history. Elop was hired to be a game changer and certainly did that. And I'm still not convinced that he isn't working really for MSFT. I think MSFT influenced the pension funds in platform selection. The N9 was shut down because it was becoming a hit seller.

     

    Either Elop was a real amateur or not playing fair. I mean come on, kill the #1 platform and then you don't have anything to deliver for like more than a year? Who would do that.
    28 Jun 2012, 07:14 PM Reply Like
  • Sock Hunter
    , contributor
    Comments (9) | Send Message
     
    "I mean come on, kill the #1 platform and then you don't have anything to deliver for like more than a year? Who would do that?"

     

    - RIM
    30 Jun 2012, 01:53 AM Reply Like
  • Charles Santerre
    , contributor
    Comments (1242) | Send Message
     
    Look for Elop to be fired if the board just said they support him.
    29 Jun 2012, 06:53 PM Reply Like
  • Sock Hunter
    , contributor
    Comments (9) | Send Message
     
    ...like saying out of the blue, "it's not like you're fat"
    30 Jun 2012, 01:53 AM Reply Like
  • Tombaum eister
    , contributor
    Comments (188) | Send Message
     
    It's the prelude to elop getting the boot - but that won't bring back the 30bn euros in market cap ELOP destroyed with his deisastrous performance! But th eFins are really stupid to have chosen this former Boston Chicken Manager - ELOP is a job hopper and the longest he lasted was in Boston Chicken which he drove into banktruptcy.
    30 Jun 2012, 10:38 AM Reply Like
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