Nokia’s former CEO Stephen Elop is stepping down from his position at Microsoft Corporation (NASDAQ:MSFT) after acquiring it a year ago.
The former Nokia boss joined Microsoft after it bought out Nokia. The Microsoft-Nokia deal got him out of his CEO position at the acquired firm to becoming the Executive Vice President for Devices & Servicesat the conglomerate. Mr. Elop has only been at Microsoft for a year.
Microsoft’s current CEO, Satya Nadella wrote a memo to the company’s employees about Elop’s exit. It stated that the time was right for him to exit Microsoft. There has been a bit of reshuffling in the management since Elop left. Terry Myerson will take over as the VP of the devices and services division. Myerson will make the shift from his current position where he is the Vice President of operating systems at the software and technology company.
According to the Memo, by Nadella, he described Mr. Elop as an ambitious individual with the need to influence focus and accountability in the delivery of the expected services. The CEO also claimed that Elop’s exit is a loss of good leadership for the firm though it was a personal decision to leave.
No information has been revealed as to where Elop will go next. In the memo, Nadella said he was curious to see where the former devices and services VP will land next. Since Microsoft bought out Nokia, it has been making efforts to widen the reach of the Microsoft brand. Some of the strategies involved include rebranding former Nokia stores.
Microsoft Corporation (NASDAQ:MSFT) has also taken up more market expansion, for example, the new venture with Snapdeal for an online store in India. The online store is expected to boost company’s presence in the region while at the same time making its products easily available to the Indian market. The activities have also been efforts to keep up with the growing competition from other firms.
