Chutes & Ladders: Nokia to name new chief for cell phone unit

Nokia's outgoing CEO Jorma Ollila said the company will name a new leader for its mobile phone unit in the next four to five weeks. Ollila did not say whether Nokia is looking internally or outside the company for this hire. This announcement comes after Ollila said he plans to step down as Nokia's CEO effective June 1, 2006. Ollila will be replaced by Olli-Pekka Kallasvuo, the current head of Nokia's mobile phone business. Industry insiders and analysts are anxious to see who the company will chose to run its mobile unit. While Nokia remains the world's leading cell phone maker, many in the industry think its time the company shakes up its dominant business before rivals like Motorola overtake it.

For more on the executive shakeup at Nokia:
- read this article from AFX

PLUS: A look at Jorma Ollila, the man who transformed Nokia from a manufacturer of cables, rubber boots, and paper products into the world's leading mobile phone maker. Article