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Nokia - Jorma Ollila became The CEO

Time: Jan, 1992

Place: Espoo, Finland

Details: Vuorilehto quit in January 1992 and was replaced by Jorma Ollila, who had been the head of the mobile phone business from 1990 and advised against selling that division. Ollila decided to turn Nokia into a 'telecom-oriented' company, and he eventually got rid of divisions like the power business. This strategy proved to be very successful and the company grew rapidly in the following years. Nokia's operating profit went from negative in 1991 to $1 billion in 1995 and almost $4 billion by 1999.

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1992

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