Olli-Pekka Kallasvuo, currently head of Nokia Mobile Phones, will take over the CEO spot June 1 2006, the company said.
Setting the groundwork well ahead of the transition, Nokia said Kallasvuo will become president and COO come October 1 2005.
Ollila will stay at Nokia as non-executive chairman after he resigns, assuming the company’s transition plan is adopted by shareholders at the next general meeting.
Pekka Ala-Pietila, the company’s current COO and president, will leave the post to pursue other opportunities in October, but will stay around as an advisory until next February.
Kallasvuo has long been believed to be Ollila’s anointed successor, with both men following the same career path through Nokia’s senior executive ranks.
Once the company’s CFO, Kallasvuo took his current job in January 2004. Ollila followed the same route, but has been CEO since 1992.
The Board is convinced that Olli-Pekka Kallasvuo, with his strong industry credentials and over 20 years of experience at Nokia, will provide the required leadership for the Company in the future, Nokia said in a statement.
The move also puts to rest the notion that an American, rather than a Finnish person, could have been the next Nokia chief.
Nokia, one of the cornerstones of the Finnish economy, recruited two US citizens, Rick Simonson and Mary T. McDowell, to be CFO and manager of Enterprise Solutions, at about the same time Kallasvuo took on the Mobile Phones business.
