Nokia Chairman Defends CEO Elop

Posted on Jun 28 2012 - 6:36pm by Editorial Staff

Although Nomura Analysts cut Nokia sales estimates to $7.5 billion as well as Finland Prime Minister clearly stated that the troubled Nokia is not the country’s-owned business and it would not invest in Nokia shares, but what according to the latest report from Finnish daily Helsingin Sanomat suggests a positive attitude, Nokia chairman Risto Siilasmaa defended chief executive Stephen Elop.

Nokia’s board of directors in an interview with the publication said that “It is absolutely impossible to measure the CEO’s success in the short term financial results, because the difficulties of Nokia’s smart phones started as early as 2008. Despite this, financial performance, profitability and competitiveness are the only factors, which the CEO is required in the long run.”

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