Nokia has tapped its current CFO, Rick Simonson, to head its mobile phone business and lead strategic sourcing for the entire devices unit.
“Rick Simonson’s deep knowledge of the business and its financials will be valuable for the significant part Mobile Phones plays in Nokia’s business,” said Nokia CEO Olli-Pekka Kallasvuo in a statement.
Simonson will be replaced by Timo Ihamuotila, who is currently global head of sales.
Excluding smartphones, Nokia’s handset business accounts for more than half of the net sales in the company’s Devices & Services business. The Mobile Phones division leads the portfolio, product and lifecycle management of all Series 30 and Series 40 devices.
The move comes two weeks after Nokia split its Devices business between handsets and smartphones, and one day after Nokia swung to a worse-than-expected loss of $832 million and a sharp decline in its market share of smartphones in its third quarter. The quarterly loss was the company’s first since 1998.