Jorma Ollila who is retiring as Chairman of Nokia (OMX: NOK1V, NYSE: NOK) next week was interviewed by MTV3 breakfast time show Huomenta Suomi this morning. He kept stressing that Nokia is not in a crisis. Ollila has been viewed as the symbol of Nokia's rise. Until only recently it seemed he was above all criticism.
In his view CEO Stephen Elop has gained the trust of "his gang" very well. Ollila said that it takes 2-4 years to see the real impact of the recent actions but feels that the corporate culture has changed and that there is real sense of urgency within the company. He admitted that Nokia is no longer number one but felt that it has a good chance to return to that position.
The share price decline did not seem to rattle him whatsoever. New products are coming this year and a positive impact will start to show although he would not comment when the company could return to profitability. In a reference to a speculated deeper union of Nokia and Microsoft, he told MTV3 that large technology sector mergers are not a solution since corporate cultures differ so greatly.
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