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Nokia Names Microsoft's Elop As New CEO

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Nokia has tapped Stephen Elop, former president of Microsoft's business software group, to become its new CEO effective Sept. 21. Elop will replace Olli-Pekka Kallasvuo, who loses his board seat immediately and will step down from the CEO position on Sept. 20. Microsoft said Elop will leave immediately, but the company doesn't seem to be rushing to fill the vacancy at the top of one of its largest divisions. 'I am writing to let you know that Stephen Elop has been offered and has accepted the job as CEO of Nokia and will be leaving Microsoft, effective immediately,' Microsoft CEO Steve Ballmer wrote in a letter to employees late Thursday.

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