February 04, 2004

By: Yen Hung
Website: http://www.1st-in-cell-phones.com

Hold the Cell Phone: Morningstar Selects Nokia’s Jorma Ollila as CEO of the Year for 2000

Morningstar, Inc. today named Jorma Ollila, head of Finland-based Nokia (NOK), the world’s largest manufacturer of cellular phones, as the Morningstar CEO of the Year for 2000.

"Nokia has succeeded even as its competitors stumbled in 2000," said Pat Dorsey, director of stock analysis for Morningstar. "Ollila has always made sure that Nokia’s employees stay focused on the role mobile phones play in people’s lives, which has been the key to the company’s success. This focus on giving customers what they want has helped Nokia to win valuable market share from its rivals, rewarding shareholders handsomely in the process."

The Morningstar CEO of the Year Award was designed to honor a chief executive who has put his or her stamp on an industry, while turning corporate success into greater wealth for shareholders.

Nokia’s dominance in the marketplace matches its success with investors. It sells nearly one out of three cellular phones worldwide and its market share is double that of its nearest competitor. Nokia’s sales, which grew nearly 60% in 2000, are impressive for a company that has projected revenues of $26 billion.

Author Notes:

Yen Hung contributes and publishes news editorial to http://www.1st-in-cell-phones.com.  A cellular phone industry resource featuring articles, comparisons and reviews of cellular phone and service plans.