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4 Tech CEOs Who Should Get the Boot NOW

Ballmer's on his way out ... and these guys should be too

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Stephen Elop

NokiaCompany: Nokia
CEO Since: 2010
Return During Tenure: -59%

First up, we have Stephen Elop — the head honcho at fading cell phone pioneer Nokia (NOK). When coming on board, Elop wrote a memo with an interesting title: “Burning Platform.” In it, he compared the Nokia smartphone business to a person that’s standing on a burning oil platform.

Unfortunately, the platform is still burning … and it may just sink into the ocean!

Sure Elop — a former Microsoft executive — struck a partnership deal with the software giant to use the Windows operating system. But that’s proven to be a strategic blunder. As seen with Nokia’s Lumia phones, the uptake has been lackluster. In hindsight, it seems that Google’s (GOOG) Android platform would have been a better choice.

In the second quarter, Nokia sold only 7.4 million units — 700,000 below the consensus estimate. The average sales price also slid, indicating that the Lumia brand is fairly weak.

Article printed from InvestorPlace Media,

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