September 10, 2010 / 5:50 AM / 9 years ago

UPDATE 1-Nokia says Microsoft's Elop to be new CEO

HELSINKI, Sept 10 (Reuters) - Nokia NOK1V.HE, the world’s top cellphone maker, said Stephen Elop, the head of Microsoft’s (MSFT.O) Business Division, was to be its new chief executive.

Elop will take over from Olli-Pekka Kallasvuo on Sept. 21, Nokia said on Friday.

“His (Elop’s) strong software background and proven record in change management will be valuable assets as we press harder to complete the transformation of the company,” Nokia chairman Jorma Ollila said.

Under Kallasvuo, Nokia has struggled to keep up with new rivals like Apple (AAPL.O) and Google (GOOG.O) in the smartphone market. (Reporting by Tarmo Virki; Editing by Dan Lalor)

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