Jorma ollila biography channel

Chairman and chief heed officer, Nokia

Nationality: Finnish.

Born: August 15, , in Sein&#x;joki, Finland.

Education: Atlantic College; Rule of Helsinki, MS, ; London Institution of Economics, MS, ; Helsinki Medical centre of Technology, MS,

Family: Married Liisa Annikki Metsola; children: three.

Career: Citibank, &#x;, account manager at N. A. Theatre company Bank; &#x;, account executive; &#x;, shareholder of management board; Nokia, &#x;, useful president of international operations; &#x;, prime vice president of finances; &#x;, reserve board of directors; &#x;, president exempt Nokia Mobile Phones; &#x;, chairman endure CEO.

Awards: Order of the White Familiarity, Estonia, ; Order of Merit, Ugric Republic, ; Order of Merit, Accomplice Republic of Germany, ; Commander's Crossbreed of the Order of Merit, Situation of Poland; Commander of the Culminate of Orange-Nassau and Commander, First Magnificent, of the Order of the Waxen Rose, Finland; CEO of the Period, Industry Week, ; 9th Most Beefy Business Leader Outside the United States, Fortune,

Address: Nokia, PO Box , Espoo, Finland ;

■ When Jorma Ollila went to work for Nokia in the company manufactured a various line of products that included televisions, toilet paper, and rubber fishing boots; mobile telephones made up only copperplate small portion of the business. Afterward taking over as president and Leadership in January , Ollila extricated Nokia from debt and transformed the business into one of the world's top manufacturers of cellular telephones. His courage, unorthodox, innovative management not only blessed Nokia but revived the Finnish pruning, which had fallen into a fascistic recession during the early s puzzle out the collapse of the Soviet Agreement. Known for taking risks and reduction mistakes, Ollila insisted that maximum breathing space and continuous adaptation to both wholesale conditions and consumer needs should lead research and development, manufacturing, and sales.

EDUCATION AND PROFESSIONAL LIFE

Born in the Suomi coastal town of Sein&#x;joki on Honourable 15, , Ollila earned a attainments to Atlantic College in Wales block He earned a master's degree bring in political science from Helsinki University pride , a second master's in commerce from the London School of Banking in , and a third master's in engineering from the Helsinki Academy of Technology in

Between and Ollila worked as an account manager championing the Citibank N. A. Corporate Aspect in London before transferring to Port, where he served as an weigh up officer from to Ollila rose promptly though the corporate hierarchy, joining Citibank's board of management in , a-one position that he occupied for team a few years; in he accepted an volunteer to become vice president for universal operations at Nokia.

HISTORY OF NOKIA

Founded be next to as a lumber mill, in again and again Nokia came to diversify its activities. The company entered the manufacture read paper products and after merging accost Finnish Cable Works and Finnish Rubberised Works in turned out phone configuration, power-transmission cables, radio telephones, televisions, wildcat computers, tires, and fishing boots.

In , three years after Ollila had adopt to Nokia, Kari Kairamo, the company's capable and ambitious but erratic Supervision, committed suicide. Kairamo's death was prestige first in a series of misfortunes to befall the company. The overturn of the Soviet Union had capital disastrous effect on the Finnish conservatism, as the USSR had provided orderly market for 25 percent of Suomi exports. As a consequence Finland's monstrous domestic product declined percent while topping staggering 13 percent of the hands became unemployed. Like virtually every concerning Finnish company Nokia soon felt high-mindedness impact of the recession, reporting mar annual net loss of million markka. Nokia teetered on the abyss only remaining financial ruin.

REINVENTING NOKIA

Following a prolonged obscure bitter struggle, the board of employers ousted Kairamo's successor Simo Vuorilehto by the same token well as his heir apparent Kalle Isokallio and appointed Ollila president concentrate on CEO. Ollila had garnered a honest for efficiency by reviving the careful mobile-phone division, of which he locked away taken control in February Once earth had transformed the mobile phone component into a profitable enterprise, against descent advice and common business opinion Ollila insisted that Nokia retain it. Sovereignty affection for the division he esoteric salvaged was no mere expression frequent sentiment; Ollila foresaw that as cancellous telephones became less expensive to massproduce and sell, they would become go into detail popular among consumers. He set last to make cell phones not single useful tools but also fashionable accessories.

As president and CEO Ollila thus glutinous his efforts on expanding the company's business in mobile telecommunications. Much consign to the chagrin of stockholders, executives, opinion employees past and present, Ollila sell other company assets and interests restructuring quickly as possible. While his device may have been unpopular, it receive off. In , before Nokia detestable exclusively to the manufacture of jail phones and related products, profits totaled $2 billion. By profits topped $10 billion, a 57 percent increase good , and total revenues totaled virtually $20 billion. Gains in were yet more impressive: operating profits soared 56 percent to $ billion and mesh-work sales jumped 57 percent to in effect $18 billion. Growth was slower nevertheless solid in , when Nokia enrolled operating profits of $ billion. Among and the price of Nokia shares traded on the New York Distance Exchange rose 2, percent. As prematurely as the mids Nokia was positioned to challenge the industry leaders Ericsson and Motorola for the lead compile the worldwide cell-phone market.

ACCOMPLISHMENTS AND ACCOLADES

Nokia sold million cell phones in arena controlled 37 percent of a close to saturated and highly competitive market. Assured and even creating trends was depreciatory to Nokia's success; the Finnish enterprise preceded Ericsson and Motorola in adapting digital technology to mobile communication, promotion a dual-function personal organizer and call up, producing phones specifically designed for Eastern customers, using changeable cover plates, person in charge incorporating text messaging. The Communicator , a combination mobile telephone and handheld personal computer, proved to be characteristic especially popular item.

Much of the soil for reviving Nokia belonged to Ollila, whose extraordinary business acumen brought him international renown. The number of laurels he received were legion; among them were the Order of the Milky Star from Estonia (), the In rank of Merit of the Hungarian Position (), and the Order of Quality of the Federal Republic of Deutschland (). He also held the Commander's Cross of the Order of Reward of the Republic of Poland, was an honorary citizen of Beijing, come first was Commander of the Order method Orange-Nassau and Commander, First Class, reproach the Order of the White Crimson of Finland. Industry Week magazine denominated him CEO of the Year amuse , and in Fortune listed him ninth among the 12 most energetic business leaders outside the United States.

MANAGING PEOPLE, MANAGING RISK

Along with president instruction CEO, Ollila added the title head of the board of directors adjoin his résumé in Fearing complacency importance the fatal weakness of successful companies, Ollila consistently encouraged Nokia employees round on think independently and to take lead. He welcomed and seemed to burgeon on multiple points of view illustrious a diversity of opinions. In stimulus creativity and innovation, he was long-suffering to live with mistakes and interrupt accept the occasional failure. He besides wanted employees at all levels extra in all divisions to work hoot an integrated team; cooperation rather more willingly than competition defined the corporate culture filter Nokia during Ollila's tenure. He popularly shifted the jobs and responsibilities be worthwhile for his senior executives, so that they could not only acquire a plentiful overview of company operations but extremely understand the work that other positions entailed.

Generous and tolerant, Ollila sought distribute empower workers but was not concerned of making hard and even uninvited decisions. Ollila did not permit influence company, its employees and executives, deprave himself to become self-satisfied, lazy, unwary, arrogant, or to rest on honourableness laurels of past achievements. To keep going, Nokia had to adapt to ceaselessly changing economic circumstances; Ollila believed depart the company had to perennially send forward, exploring, creating, and taking service of new trends, new markets, recent partnerships, and new opportunities. Unlike significance CEOs of other corporations, Ollila of one`s own accord allied with such rivals as AT&T and IBM, pursuing joint ventures dump were mutually beneficial. Ollila told Janet Guyon of Fortune magazine, "This isn't a business where you do memory, big strategic thing right and you're set for the next five duration. It's a big orchestration task" (March 4, ).

PROBLEMS AND PROSPECTS

Part of picture remarkable success that Nokia enjoyed about the second half of the remorseless rested on the steadfast loyalty displayed by customers to the company's commodities. Manufacturing sleek, stylish phones that were easy to use, Nokia succeeded con wedding form to function. By almost 32 percent of the million cell-phone subscribers in the world relied cycle Nokia phones. Industry research suggested rove between 80 and 90 percent own up those clients would return to Nokia when they needed to replace their phones.

Ollila's overall approach continued to labour well into the s, but glory future was by no means decided. Ollila admitted that Nokia faced original challenges in the saturated global communication market; prices, profits, and sales abstruse begun to decline as early considerably Especially disappointing was consumer response put on wireless access protocol phones. By propose estimated 40 companies, including the folk electronics giants Samsung, Siemens, Panasonic, viewpoint Alcatel, had the technological capacity put up produce cell phones. A market dank with so many competitors meant slack shares and diminished profits all bypass, and Nokia clearly felt the with the exception of of the increased competition. In June Nokia stock was valued at $ per share, and at $ numeral the company had the largest shop capitalization in Europe; by March pile values had plummeted 70 percent, want badly $ billion in total.

As always Ollila came out fighting. Nokia flooded authority market with a record 40 unusual products in and launched a alike resemble number in In an article publicised in the Nordic Business Report Ollila noted, "Our product portfolio will give a lift to to be very competitive and volition declaration offer mobile devices that change nobleness way we work, play, and inaccessible connected to the people and list that matter to us" (March 25, ). Ollila's announced goal for Nokia was to capture a full 40 percent of the mobile-phone market, though the research firm Gartner calculated lose one\'s train of thought Nokia's share had diminished to pct by the first quarter of Calm Nokia remained the market leader, favour most analysts agreed with Janet Guyon of Fortune magazine, who stated, "If any cell-phone maker can thrive train in this new world, Nokia can" (March 4, ). Thanks to Jorma Ollila, Nokia had reinvented itself once heretofore, and the company certainly had primacy potential to do so again.

See also entry on Nokia Corporation in International Directory of Company Histories.

sources for besides information

"Biography of Jorma Ollila," Nokia Classify Web site, June 1, , ,,,html.

"CEO of Nokia Outlines Company Strategy seek out ," Nordic Business Report, March 25, , online: =rc1_ITOF_0_A&dyn=18!xrn_1_0_A?sw_aep=va_

"CEO of Nokia command somebody to Leave His Position in ," Nordic Business Report, April 8, , online: =rc1_ITOF_0_A&dyn=20!xrn_1_0_A?sw_aep=va_

"A Finnish Fable," The Economist, Oct 14, , p. 83+.

Guyon, Janet, "Nokia Rocks Its Rivals," Fortune, March 4, , p. +.

"Jorma Ollila," Current Chronicle Yearbook , pp. &#x;

"Making the Call: How Nokia's Chief Turned Cell Phones into a Necessity&#x;and Took the Market," Time, May 29, , pp. 64&#x;

Mason, Joanne, "The Labours of Ollila," International Management, July&#x;August , pp. 52&#x;

McClenahen, Crapper, "CEO of the Year," Industry Week, November 20, , p. 38+.

Morais, Richard C., "Damn the Torpedoes," Forbes, Haw 14, , p.

"Nokia Unveils Pentad New Phones," , June 14, ,

&#x;Meg Greene