Feeds

Dissenting Nokia shareholders: Bring us the head of Stephen Elop

Elopocalypse, Day Five

Designing a Defense for Mobile Applications

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. ®

HP ProLiant Gen8: Integrated lifecycle automation

More from The Register

next story
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Apple orders huge MOUNTAIN of 80 MILLION 'Air' iPhone 6s
Bigger, harder trouser bulges foretold for fanbois
Bring back error correction, say Danish 'net boffins
We don't need no steenkin' TCP/IP retransmission and the congestion it causes
GoTenna: How does this 'magic' work?
An ideal product if you believe the Earth is flat
Samsung Z Tizen OS mobe is post-phoned – this time for good?
Russian launch for Sammy's non-droid knocked back
Telstra to KILL 2G network by end of 2016
GSM now stands for Grave-Seeking-Mobile network
Seeking LTE expert to insert small cells into BT customers' places
Is this the first step to a FON-a-like 4G network?
Yorkshire cops fail to grasp principle behind BT Fon Wi-Fi network
'Prevent people that are passing by to hook up to your network', pleads plod
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.