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Nokia Reportedly Looking for New CEO

ESPOO, Finland ( TheStreet) -- Nokia (NOK - Get Report), the No. 1 cellphone maker, is looking for a new chief executive, a report says.

The move comes as current CEO Olli-Pekka Kallasvuo is struggling to keep Nokia up with smartphone advances made by rivals such as Apple (AAPL - Get Report), the Wall Street Journal notes. Kallasvuo has been CEO since 2006.

A U.S. spokeswoman wouldn't comment for the Journal, and efforts to reach spokesman in Finland were unsuccessful, the newspaper says.

"They are serious about making a change,'' one person familiar with the matter told the Journal.

Nokia's board is expected to make a decision by the end of July, the person added.

The CEO of a major U.S. high-tech company recently rejected Nokia's approach because the candidate wasn't interested in moving to Finland, the Journal reports, citing the person familiar with the situation. The company also has flown in at least one other U.S.-based executive to interview for the CEO job.

-- Written by Joseph Woelfel in New York.

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