Nokia chairman expected to stay on until 2012

(AP) -- Nokia Corp. says board chairman Jorma Ollila has signaled readiness to stay on at the helm of the world's leading handset maker until 2012.

Nokia spokeswoman Arja Suominen said Tuesday that Ollila has said he would be "at the disposal of the company" until the annual general meeting of the company in spring 2012.

Last week, Nokia announced that CEO Olli-Pekka Kallasvuo will be replaced by Stephen Elop, who heads Microsoft's business division, as president and chief executive Sept. 21.

The move came after Nokia stock fell more than 20 percent this year, aided by two profit warnings, and Kallasvuo had come under increasing pressure with speculation that he will be replaced.

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