Nokia shareholders tell CEO company is on ‘road to hell’

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Shareholders attending Nokia’s annual general meeting told CEO Stephen Elop he is taking risks by focusing solely on Windows Phone 8 OS for its high-end devices

Nokia CEO Stephen Elop has been accused by shareholders of taking the company on a “road to hell”.

Speaking at the manufacturer’s annual general meeting in Helsinki, shareholders told Elop they were concerned his strategy of focusing on the Windows Phone 8 operating system was not paying off.

Nokia’s latest financial results show certain Nokia Lumia models, which run on the Windows Phone 8 OS have sold well, although the company lost market share in the low-end.

According to Reuters one shareholder, Hannu Virtanen, said: “You’re a nice guy [Elop]…and the leadership team is doing its best, but clearly, it’s not enough.

“Are you aware that results are what matter? The road to hell is paved with good intentions. Please switch to another road.”

However Elop said he would continue to focus on Microsoft’s OS.

He said: “We make adjustments as we go. But it’s very clear to us that in today’s war of ecosystems, we’ve made a very clear decision to focus on Windows Phone with our Lumia product line,” he said. “And it is with that we will compete with competitors like Samsung and Android.”

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