Nine Nokia Shareholders To Protest Microsoft Deal In May
Nine Nokia shareholders will be challenging the company’s partnership with Microsoft Corporation (NASDAQ:MSFT) at the next Annual General Meeting on May 3, 2011. If the 9 shareholders are elected to a majority in the Nokia Board of Directors, they plan to pursue the following agenda:
- Return the company to a strategy that seeks high growth and high profit margins through innovation and overwhelmingly superior products with unrivaled user experience.
- Maintain ownership and control of the software layer of the Nokia products. Software is where innovation, differentiation and shareholder value can most easily be created.
- Revamp hiring strategy to target the top young software talent from around the world. Only if Nokia is able to attract and keep the best talent in the industry it will be able to generate the level of innovation that is needed to achieve sustained growth and consistently high profit margins.
- Dramatically increase efficiency by eliminating outdated and bureaucratic R&D practices like geographically distributed software development and outsourcing.
- Avoid at all cost becoming a poorly differentiated OEM with only low margin, commodity products that is unable to attract top software talent and cannot create shareholder value though innovation.