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Nokia’s Stock Rises as Nokia’s Board Finds New Chairman

Credit Suisse upgraded the stock from “underperform” to “outperform.” Nokia’s stock raised 5% in the last hours. The stock raise and upgrade come as a result of a report by the Helsingin Sanomat stating that the Nokia Board of Directors will propose to replace Jorma Ollila with Risto Siilasmaa as next Chairman. Risto Siilasmaa has been a board member since 2008; he is the CEO and President of Finnish antivirus company F-Secure and Chairman of Finnish mobile telecommunication company Elisa. He would be replacing ex-Nokia CEO Jorma Ollila who transitioned Nokia into a mobile manufacturer giant. Ollila’s term as chairman is due May this year.