Nokian Tyres Split away from Nokia

Following Simo Vuorilehto's appointment as CEO, a major restructuring was planned. With 11 groups within the company, Vuorilehto divested industrial units he deemed as un-strategic. Nokian Tyres (Nokian Renkaat), a tyre producer originally formed as a division of Finnish Rubber Works in 1932, split away from Nokia Corporation in 1988.