Nokia shareholders want CEO Elop ousted [Update]

It seems that not everyone is happy with the Nokia and Microsoft deal that the two companies announced last week, especially some of the Nokia shareholders.

According to computing.co.uk, nine Nokia shareholders will use their next annual general meeting to try and oust current CEO and President, Stephen Elop. Not only will the small band of shareholders try to replace the CEO, they also want to see a reversal of the company's deal with Microsoft.

The group has sent out an open letter entitled “Nokia Plan-B”, which outlined what they would like to see happen within the company. Firstly, they want Stephen Elop gone from Nokia, then they want to see a restructuring of the deal with Microsoft that will see them only release a few Windows Phone branded handsets. The 'plan-b' also details that the shareholders want a longer lifespan for Symbian, as it's currently set to vanish within the next year or so, and a primary focus put onto the MeeGo platform.

This isn't the only bad news for the company today though, with the Wall Street Journal reporting that a union, who is due to represent the employees, is set to demand a massive payout of €100,000 for each employee that gets laid off over the next year.

All this bad news comes at a time when Nokia shares have been taking a huge dive, dropping from €8.4 to €6.6 a share, since the Microsoft deal was officially announced last Friday.

Update: The small group of shareholders have already "called it quits." Stating that despite getting lots of support, the response from institutional investors were not encouraging.  Though from reading through the letter it sounds fishy. You can read more on the Plan B site.

Update: 2: As mentioned the Nokia Plan B site and letter seems to have been faked all along according to Seattle PI.

Image Source: The Telegraph

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