Outgoing Nokia board chief concedes mistakes

[May 04, 2012]  HELSINKI (AP) -- Outgoing Nokia Corp. board chairman Jorma Ollila has conceded the company made mistakes during his tenure at the helm of the cellphone maker that held the No. 1 spot for 14 years.

Ollila says Nokia cannot be satisfied with the its recent performance as it struggles in a transition after teaming up with Microsoft Corp. a year ago.

Nokia's share price dropped to a 15-year low of euro2.98 ($3.91) last month after it announced huge first-quarter losses and a 30 percent drop in sales.

Ollila, who worked in Nokia for 27 years, was speaking to shareholders in Helsinki on Thursday. He was Nokia's CEO in 1992-2006 and has headed the board since 1999.

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Online:

http://www.nokia.com/

[Associated Press]

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