Nokia has continued to make changes to its senior management line-up, with chairman Jorma Ollila announcing that he would step down from his position is 2012.
The announcement comes on the day that Nokia introduced three new smartphones to join its flagship N8 device at the Nokia World summit.
Ollila, who had earlier served as the CEO of the company for 14 years, is considered the man behind making the Finnish mobile phone maker the largest cell phone company in the world.
For some time now, however, Nokia has been struggling to compete with the likes of Apple, Google and RIM in the lucrative smartphone market.
Another major change Nokia made in the past few days is hiring Microsoft executive Stephen Elop to take the helm from Olli-Pekka Kallasvuo.
Nokia has replaced its head of smartphone unit Anssi Vanjoki as well, indicating that the company is looking to run with new faces and new strategies to re-establish its dominance in the smartphone market.