Holiday Gift Guide »

Nokia’s Executive game of musical chairs: CFO Rick Simonson to head Devices Unit on November 1st

Categories: Nokia
By: , IntoMobile
Friday, October 16th, 2009 at 1:37 AM

During Nokia’s Q3 conference call (see my live blog here) the company alluded to some changes in management. They didn’t exactly specify what was going to change, that is until this morning when they issued this press release:

Nokia today announced some changes in the roles of its Group Executive Board members. Rick Simonson, currently Nokia Chief Financial Officer, has been appointed to head of the Mobile Phones entity within the Devices unit as of November 1, 2009. He will also head strategic sourcing for the whole of the Devices unit. Rick Simonson joined Nokia in 2001 and has been CFO since 2004. He will continue to be a member of the Group Executive Board.

Mobile Phones is one of two new entities within the Devices unit that came into operation on October 1, 2009, the other being Smartphones. Mobile Phones leads the portfolio, product and lifecycle management of all Series 30 and Series 40 devices, which account for more than half of Devices & Services net sales and therefore represent a significant part of Nokia’s business. Mobile Phones focuses on driving a media-rich mobile platform in devices that are already used by hundreds of millions of people and growing, thereby also helping us to deliver mobile solutions.

Timo Ihamuotila, currently global head of sales, will transfer to the role of CFO as of November 1, 2009. Timo Ihamuotila first joined Nokia in 1993 and has held the position of Nokia Corporate Treasurer as well as several other senior positions in, for example, portfolio management of devices and most recently global sales of devices and services. Timo Ihamuotila will also continue to be a member of the Group Executive Board.

Says Nokia CEO, Olli-Pekka Kallasvuo: “After six successful years as CFO, it is great to have Rick move to such an important operational role. Rick Simonson’s deep knowledge of the business and its financials will be valuable for the significant part Mobile Phones plays in Nokia’s business. In addition to his background in finance, Timo Ihamuotila’s expertise from leading a diverse range of business areas will be a tremendous asset in his position as CFO.”

Good luck Rick and Timo, you’re going to need it. It’s also interesting to see the devices unit being split into two. For those who don’t remember, Devices used to be split into 3: Multimedia (Nseries), Business (Eseries) and then mobile phones. About 2 years ago the company merged all the units and just called the whole thing mobile phones. Now that big blob has been broken down into smartphones and non smartphones. When will the reorganizations stop? Seriously Nokia, come on, every employee I know complains about the yearly reorgs.

As for splitting up devices into smart and non smartphones, I’m not sure that’s going to be the wisest thing to do. The non smartphone guys have experience building devices that most people can afford whereas the smartphone folks are only now starting to dip into the sub 200 EUR price category. If anything, the knowledge non smartphone people have should be shared with the boys making smartphones.

About The Author

Stefan Constantinescu

Stefan Constantinescu (@WhatTheBit on Twitter) has loved technology since as far back as he can remember. It started with computers, but in the past few years his passion has turned to mobile devices. As a mobile phone enthusiast who lives and breathes devices that connect to the internet, he knows he is not alone with this radical fascination of all things wireless. He is strongly opinionated and enjoys a good debate so leave comments in his posts and he’ll get back to you! Stefan began blogging as a hobby in the fall of 2006 and joined IntoMobile in the summer of 2007. Later he got a job at Nokia in March 2008, but as of June 2009 he has rejoined the IntoMobile team. He is currently based out of Helsinki, Finland.