Stephen Elop's days at Nokia
Shares of the once iconic handset maker hit another multi-year low today. Elop -- brought in two years ago to save the company as its first CEO who wasn't born in Finland -- hasn't helped.
Investors probably figured that things couldn't get any worse for Nokia when Elop came in 21 months ago. The stock was at $8.60, and bringing on the former Microsoft
Well, we all know how that played out. Elop may have been correct in jumping off the "burning platform" that Symbian had become but, instead of joining rival handset makers to rally behind Google's
Elop argued at the time that Nokia would be paid "billions" to back Windows Phone, but these sums haven't shown up in the company's dwindling quarterly financials.
If anything, going with the obscure Windows Phone in a world dominated by Android and Apple's
Research In Motion
What can Elop do? The stock has shed more than three-fourths of its value since he took over. He took Nokia from a burning platform to one that has grown ice cold.
"I think that Elop will have to go, but I also think that the board also needs to be renewed with people who have an understanding and working knowledge of the mobile industry," Silicon Valley vet Jean-Louis Gassée says in an exclusive interview with Computing.
He's right. He's only saying what everyone else has been thinking.
There's no denying that the next trillion dollar revolution will be in mobile. And that's not just lip service, it's the name of a free special report that you can check out now. However, no one seems to be inviting Nokia to the revolution.
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Longtime Fool contributor Rick Munarriz calls them as he sees them. He does not own shares in any of the stocks in this story. Rick is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early.
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