Newspaper Helsingin Sanomat is saying that according to several independent sources Nokia’s (OMX: NOK1V) Nomination Committee will suggest Risto Siilasmaa as the new Chairman of the Board in the Finnish mobile maker. Long-time Chairman Jorma Ollila is stepping down at the AGM in May. Ollila was persuaded couple years ago to continue to oversee Nokia through its transition period.
Siilasmaa is the founder and largest owner in Finnish anti-virus and computer security software company F-Secure(OMX: FSC1V) and has been a part of Nokia’s Board of Directors since 2008. He is currently Chairman of Finnish telecommunications company Elisa Oyj (OMX: ELI1V), and holds several other Board positions, including that of the Chairperson in Information Technology Branch Group in the Federation of Finnish Technology Industries and as a Supervisory Board member in Finpro ry.
Helsingin Sanomat says that it has been clear from the start that the new Chairman would be selected among the current Finnish members in the Board. These include MIT economics professor Bengt Holmström, Stora Enso’s (OMX: STE1RV) decorated CEO Jouko Karvinen and Sampo Group’ (OMX: SAMAS) CEO Kari Stadigh. Siilasmaa has wide knowledge of the industry but lacks experience in doing large-scale global business and in investor relations.
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