Nokia changes CEO, names Microsoft’s Elop

Nokia changes CEO, names Microsoft’s Elop
(Telecompaper) Nokia has appointed Stephen Elop its new president and CEO, effective 21 September. Elop currently heads Microsoft’s Business Division. Before joining Microsoft, he held senior executive positions in a number of US-based public companies, including Juniper Networks, Adobe Systems and Macromedia. He holds a degree in computer engineering and management degree from McMaster University in Canada, which is his home country. Elop will replace Olli-Pekka Kallasvuo, who has held the position since 2006. Kallasvuo will leave the company as of 20 September, but remain the non-executive chair of the Nokia Siemens Networks board. Nokia chairman Jorma Ollila said the “time is right to accelerate the company’s renewal” and bring in new leadership. Elop’s “strong software background and proven record in change management” are expected to help drive the company’s transformation as it looks to compete with emerging rivals such as Apple and Google.[Lees verder]

Vodafone reorganises into 2 regions
(Telecompaper) Vodafone Group announced a reorganisation of its management structure, taking the group form three to two regional divisions, appointing a new chief commercial officer and separating management of its minority holdings. From 1 October, the company will work based on two operating regions. These are Europe, compiring all the countries of the previous Europe division plus the Czech Republic, Hungary, Romania and Turkey; and Africa, Middle East and Asia Pacific, comprising all emerging economies in Africa, the Middle East and Asia, plus Australia, New Zealand and Fiji. Michel Combes will remain regional CEO in charge of the Europe division, and Nick Read, the CEO of the former Asia Pacific and Middle East division, will head up the new Africa, Middle East and Asia Pacific unit. The company’s minority holdings, in Verizon Wireless, SFR, Polkomtel and Bharti Holding, will be managed outside the regional structure, and the group CEO, CFO and strategic business director will be in charge of “effecting strategies to maximize shareholder value” from the investments, the company said. The Group Marketing, Vodafone Business Services, Vodafone Global Enterprise, Partner Markets and other commercial units will be combined into a new organization, Group Commercial, which will be responsible for all commercial activity. This unit will be headed by Morten Lundal as group Chief Commercial Officer. Lundal is the former CEO of the Central Europe and Africa regional division. All technology functions in Vodafone’s operating companies will report into Group Technology. Steve Pusey, as group CTO, will report directly to the group CEO. Vodafone said it will report on the basis of the new organisation structure for the second half of this financial year.[Lees verder]

Dutch operators, banks to bring mobile payments to checkouts
(Telecompaper) Dutch mobile operators KPN, T-Mobile Netherlands and Vodafone Netherlands, as well as banking groups ABN Amro, ING and Rabobank have signed a letter of intent to jointly introduce mobile payments at checkouts in the Netherlands, after conducting a technical and commercial feasibility study. The companies claim it is the first time that major banks and mobile operators in a European country have joined forces with regard to mobile payments. The six companies plan to set up a joint venture to facilitate mobile payments in an easy and safe manner. The group wants to create a single uniform system for mobile transactions in the country, based on international standards.They said that they expect checkout payments via the mobile will be available in the course of 2012. Instead of paying with their bank cards, customers will hold their mobile phone against the store’s point-of-sale terminal and the payment will be made within seconds. The payment software will be located in a secure part of the Sim card in the user’s phone. No payment information will be sent over the mobile network.[Lees verder]

Telenor among operators eyeing Wind Hellas – report
(Telecompaper) Telenor is one of the six parties interested in Wind Hellas, the Greek operator controlled by Egyptian entrepreneur Naguib Sawiris, The Financial Times writes. Wind Hellas, which could fall into new ownership as part of a debt restructuring, announced a strategic review, and last month the mobile operator said it had received preliminary expressions of interest from several potential investors. Six parties are conducting due diligence and binding offers for Wind Hellas are due by 15 September. Weather Investments, Sawiris’ private investment vehicle and Wind Hellas’ controlling shareholder, is among those parties that have submitted offers for the mobile operator. Other interested parties in Wind Hellas include Saban Capital, the US private equity firm mainly focused on the media sector, and two Greek companies. A group of Wind Hellas’ senior secured bondholders, which include Anchorage Advisors, Angelo Gordon, Eton Park, Mount Kellet and Taconic Capital, are also working on a proposal that could see them take over the mobile operator. People familiar with the situation said Wind Hellas’ enterprise value was less than its EUR 1.2 billion of senior secured bonds outstanding. The market is valuing the bonds at between 30 and 40 percent of face value. Wind Hellas also has EUR 355 million of outstanding senior unsecured bonds and a EUR 250 million revolving credit facility.[Lees verder]

Nokia changes CEO, names Microsoft’s Elop
(Telecompaper) Nokia has appointed Stephen Elop its new president and CEO, effective 21 September. Elop currently heads Microsoft’s Business Division. Before joining Microsoft, he held senior executive positions in a number of US-based public companies, including Juniper Networks, Adobe Systems and Macromedia. He holds a degree in computer engineering and management degree from McMaster University in Canada, which is his home country. Elop will replace Olli-Pekka Kallasvuo, who has held the position since 2006. Kallasvuo will leave the company as of 20 September, but remain the non-executive chair of the Nokia Siemens Networks board. Nokia chairman Jorma Ollila said the “time is right to accelerate the company’s renewal” and bring in new leadership. Elop’s “strong software background and proven record in change management” are expected to help drive the company’s transformation as it looks to compete with emerging rivals such as Apple and Google.[Lees verder]

Vodafone reorganises into 2 regions
(Telecompaper) Vodafone Group announced a reorganisation of its management structure, taking the group form three to two regional divisions, appointing a new chief commercial officer and separating management of its minority holdings. From 1 October, the company will work based on two operating regions. These are Europe, compiring all the countries of the previous Europe division plus the Czech Republic, Hungary, Romania and Turkey; and Africa, Middle East and Asia Pacific, comprising all emerging economies in Africa, the Middle East and Asia, plus Australia, New Zealand and Fiji. Michel Combes will remain regional CEO in charge of the Europe division, and Nick Read, the CEO of the former Asia Pacific and Middle East division, will head up the new Africa, Middle East and Asia Pacific unit. The company’s minority holdings, in Verizon Wireless, SFR, Polkomtel and Bharti Holding, will be managed outside the regional structure, and the group CEO, CFO and strategic business director will be in charge of “effecting strategies to maximize shareholder value” from the investments, the company said. The Group Marketing, Vodafone Business Services, Vodafone Global Enterprise, Partner Markets and other commercial units will be combined into a new organization, Group Commercial, which will be responsible for all commercial activity. This unit will be headed by Morten Lundal as group Chief Commercial Officer. Lundal is the former CEO of the Central Europe and Africa regional division. All technology functions in Vodafone’s operating companies will report into Group Technology. Steve Pusey, as group CTO, will report directly to the group CEO. Vodafone said it will report on the basis of the new organisation structure for the second half of this financial year.[Lees verder]

Dutch operators, banks to bring mobile payments to checkouts
(Telecompaper) Dutch mobile operators KPN, T-Mobile Netherlands and Vodafone Netherlands, as well as banking groups ABN Amro, ING and Rabobank have signed a letter of intent to jointly introduce mobile payments at checkouts in the Netherlands, after conducting a technical and commercial feasibility study. The companies claim it is the first time that major banks and mobile operators in a European country have joined forces with regard to mobile payments. The six companies plan to set up a joint venture to facilitate mobile payments in an easy and safe manner. The group wants to create a single uniform system for mobile transactions in the country, based on international standards.They said that they expect checkout payments via the mobile will be available in the course of 2012. Instead of paying with their bank cards, customers will hold their mobile phone against the store’s point-of-sale terminal and the payment will be made within seconds. The payment software will be located in a secure part of the Sim card in the user’s phone. No payment information will be sent over the mobile network.[Lees verder]

Telenor among operators eyeing Wind Hellas – report
(Telecompaper) Telenor is one of the six parties interested in Wind Hellas, the Greek operator controlled by Egyptian entrepreneur Naguib Sawiris, The Financial Times writes. Wind Hellas, which could fall into new ownership as part of a debt restructuring, announced a strategic review, and last month the mobile operator said it had received preliminary expressions of interest from several potential investors. Six parties are conducting due diligence and binding offers for Wind Hellas are due by 15 September. Weather Investments, Sawiris’ private investment vehicle and Wind Hellas’ controlling shareholder, is among those parties that have submitted offers for the mobile operator. Other interested parties in Wind Hellas include Saban Capital, the US private equity firm mainly focused on the media sector, and two Greek companies. A group of Wind Hellas’ senior secured bondholders, which include Anchorage Advisors, Angelo Gordon, Eton Park, Mount Kellet and Taconic Capital, are also working on a proposal that could see them take over the mobile operator. People familiar with the situation said Wind Hellas’ enterprise value was less than its EUR 1.2 billion of senior secured bonds outstanding. The market is valuing the bonds at between 30 and 40 percent of face value. Wind Hellas also has EUR 355 million of outstanding senior unsecured bonds and a EUR 250 million revolving credit facility.[Lees verder]