Nokia chairman Jorma Ollila to step down in 2012 -

Jorma Ollila, the Finnish exec who turned Nokia from the maker of rubber boots to a mobile phone giant, has announced that he will step down next year.

The news comes amidst gloomy creakings heard from the Bad Ship Nokia, recently acquired sorry partnered with Microsoft. There have been huge job cuts and lay-offs, to the tune of Nokia saying 7,000 would be given the axe, effectively murdering the mobile manufacturing powerhouse in Europe.

We've mentioned it enough but, here's that killer quote again: our top brass source from within Nokia has said it's more of a takeover than a partnership.

The search for his successor is already on. 

Ollila publicly praised Nokia's CEO, ex-Microsoft man Stephen Elop, in a shareholders speech. Elop talked more about that swing factor, as he dubbed it at MWC. And underlined the importance of the patent portfolio Redmond shares with Nokia.

Elop is a nominee for the Board of Directors, says YLE and Reuters