Feeds

Dissenting Nokia shareholders: Bring us the head of Stephen Elop

Elopocalypse, Day Five

Internet Security Threat Report 2014

A group of purported Nokia shareholders and former employees has vowed to challenge the new company's strategy at the next AGM in May.

The revolting shareholders' "plan B" calls for a return to "high growth and high profit margin through innovation" and "maintain ownership and control of the software layer of the Nokia products".

Oh, and they demand the immediate removal of CEO Stephen Elop.

They write that Nokia must "avoid at all cost becoming a poorly differentiated OEM with only low margin, commodity products that is unable to attract top software talent and cannot create shareholder value though innovation."

The dissenters also call for the company to dump Elop and the Executive Board, with Savander (marketing), McDowell (enterprise) and Ojänpera (holistic moonshine) given their immediate marching orders. Nokia should focus on Meego, they insist, and use Windows merely as a tactical addition to its portfolio in the North American market, extending the life of Symbian.

The plan calls for deep cuts, with R&D to be focussed in two locations (multiple locations allow Nokia staff to clock up their air miles) and end R&D outsourcing, which is bureaucratic and expensive.

Although shareholders called on Nokia to dump Symbian and opt for a more competitive platform, when Elop outlined his plan to do exactly that, Nokia lost 25 per cent of its value. The falls continue today.

Deep misgivings remain over Nokia's ability to execute on the strategy, and there is almost universal scepticism that Nokia will be able to increase its margins at the service layer (ie, Ovi) to compensate for disappearing margins on devices.

The AGM is scheduled for 3 May. It's unlikely to be more than a token protest. By May the Meego team will have been dissolved - its leader, Alberto Torres has already left - and Elop will really be able to say there's no alternative. ®

Remote control for virtualized desktops

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.