Various business publications have predicted that four executive vice presidents, three of them Finnish, face departure from the company. Sources obtained by YLE indicate that only one or two executives are expected to go, and not necessarily Finns.

The speculation began when German business weekly Wirtschaftswoche reported that Nokia’s new CEO Stephen Elop would show the door to four out of ten members of the executive board.

The executive vice presidents expected to leave, according to the publication, included Mary McDowell, Tero Ojanperä, Niklas Savander and Kai Öistämö. Later, the Wall Street Journal published a matching estimate.

All four have been long-standing members of the executive board. Ojanperä, Savander and Öistämö have been working at Nokia since the 1990s. They were also considered trusted colleagues of the former CEO Olli-Pekka Kallasvuo.

New Strategy to Be Revealed On Friday

On Monday, speculations regarding Nokia executive board restructuring raised Nokia share prices by three percent.

CEO Stephen Elop is expected to present the new organisation to Nokia employees on Thursday, just a day before his appearance in London, where he will share his plans with the international press.

Nokia’s Head of Communications Arja Suominen had little to say to YLE on this matter.

“We never comment on rumours or speculation. On Friday we will reveal the new strategy and its possible impact on the organization.”