Shareholder activists considering extraordinary general meeting to sack Nokia CEO Stephen Elop
Monday, August 27, 2012/
A shareholders’ association has raised the prospect of calling an extraordinary general meeting to dismiss Nokia CEO Stephen Elop, according to reports in one of Finland’s leading business publications.
According to a Finnish-language article in Kauppalehti, Shareholders Federation chairman Timo Rothovius believes Nokia’s Windows Phone strategy is wrong, telling Wise Money magazine: “It was reported that Nokia has chosen a failed strategy, which is why the CEO in particular, should be replaced.”
“Investors who have been active on this issue have, among other things, a requirement to collect proxies for an extraordinary general meeting of the company.”
“Such a meeting is convened when requested by shareholders representing at least one-tenth of all shares.”
Unsurprisingly, outspoken former Nokia executive Tomi Ahonen, who recently called Elop “the worst CEO ever”, has published an open letter on his website encouraging Nokia shareholders to fire Elop over his decision to drop Nokia’s MeeGo smartphone platform in favour of Windows Phone.
The news comes after HP announced that it has hired former MeeGo-N9 executive Alberto Torres to head a new consumer tablet division, while smartphone start-up Jolla, launched by former Nokia staff, has hinted that its forthcoming MeeGo devices will be able to run Android apps.
The art of business drinking: How to make deals, networks and friends Ian Whitworth Scene Change co-founder
Bridging the gap: Why regular customer surveys are key to good business Sonia Majkic 3 Phase Marketing co-founder
Six reasons every workplace should have a resident dog Michael Tiyce Tiyce & Lawyers principal
How we created an engaging online course with a 91% completion rate Emma Green Your CEO Mentor co-founder
Five things to consider before you launch a family business Monique Bolland Nuzest co-founder
Why Australian businesses are the new owned media moguls Jonathan Hopkins Marketing