ATLANTA (July 20, 2010) — The Garlington Report has learned that premier executive search firm Spencer Stuart is spearheading the search for a new CEO at Nokia, the Espoo, Finland-based mobile technology company. Industry heavyweight Jim Citrin, a senior leader at the firm, is said to be leading the search. While Citrin declined to comment directly, his involvement marks yet another high-profile assignment for Spencer Stuart.
Let’s be clear: we’re reporting what we believe to be true, not based on anonymous sources or vague “persons familiar with the matter.” Spencer Stuart has not confirmed the assignment despite multiple inquiries, but the firm’s pattern of recent engagements supports the credibility of this development.
A Trusted Hand in Turbulent Times
Spencer Stuart’s growing influence at the top of the Fortune 500 ladder has been impossible to ignore. Since the financial crisis of 2008, the firm has managed CEO transitions at some of the world’s most scrutinized corporations—including General Motors, AIG, and Citigroup. In fact, a Wall Street Journal piece last year revealed that members of the Obama administration recommended contacting Tom Neff, another Spencer Stuart senior recruiter, during the GM crisis. That intervention led to Ed Whitacre, former AT&T CEO, taking the reins at the newly restructured GM.
Given that track record, Nokia’s board appears to be following a well-worn playbook: bring in the best to manage what could be one of the more pivotal CEO selections in recent tech history.
What Does This Mean for Nokia’s Board?
Beyond the CEO appointment, the Spencer Stuart connection raises questions about governance and board composition at Nokia.
According to Nokia’s own governance disclosures (source), the board currently consists of 10 members, nine of whom are non-executive directors. While Finnish guidelines deem these directors “independent,” that number falls to eight under New York Stock Exchange standards—relevant due to Nokia’s U.S. listing and shareholder base.
Notably, at Nokia’s Annual General Meeting on May 6, 2010, Jorma Ollila was re-elected as Chairman, with Marjorie Scardino returning as Vice Chairman. Scardino is currently the CEO of Pearson PLC, having previously led The Economist Group. She remains the only sitting CEO among Nokia’s non-executive directors. Ollila, once Nokia’s CEO (1999–2006), also chairs Royal Dutch Shell, highlighting the continuing influence of legacy leadership at the board level.
Given this backdrop, Spencer Stuart’s involvement may signal not just a change in CEO, but a broader board refresh or governance restructuring—particularly if the incoming leader pushes for a modernized or more operationally diverse board.
What’s Next?
The stakes are high for Nokia, which is struggling to reclaim relevance in a rapidly evolving smartphone market. As Spencer Stuart quietly does its work behind the scenes, all eyes should be not only on who gets the CEO job—but on what that appointment reveals about Nokia’s readiness to reinvent itself.
Stay tuned. The leadership narrative here is just getting started.
Every so often, a job seeker defies the odds, proving that patience, expertise, and resilience can lead to incredible success—even in a shifting job market.
A Story of Determination
Meet our candidate: a 60+-year-old consultant and business owner, a seasoned expert in telecommunications—an industry that, to some, might feel like it’s moving toward its “horse and buggy” phase in terms of innovation. He’s been around long enough to see every shift, every trend, and every disruption. And yet, despite his wealth of knowledge, the job hunt wasn’t easy.
Why? Because too many companies overlook the value of experience.
The Overlooked Strength of Experience
Businesses today often chase the next big thing—new trends, emerging technologies, and young talent with fresh ideas. While change is essential, what many organizations truly lack is the perfect blend of brains, heart, and hands-on expertise—people who know how to execute because they’ve done it time and time again.
Artificial Intelligence (AI) may be transforming industries, but it can’t replace the depth of real-world experience. And companies that fail to recognize this miss out on the wisdom and strategic thinking that only seasoned professionals bring.
The Breakthrough Moment
After a long and challenging journey, this candidate—who became not just a client but a friend—landed a well-earned role at a major company. His persistence, expertise, and unwavering belief in his own value ultimately paid off.
As Winston Churchill once said, “Never, never, never give up.” Because when you keep going, victory finds its way to you.
A Win for the Hiring Market
This isn’t just a win for one person—it’s a win for the hiring market. It’s proof that companies still recognize the value of experience, knowledge, and leadership. And it’s a reminder that those who keep pushing forward will, eventually, get what they deserve.
So here’s to never giving up—and to the companies wise enough to hire great people when they see them. Amen.