Nokia's Ollila to Join Royal Dutch

He will succeed Aad Jacobs as the company's nonexecutive chairman starting next June.
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Updated from 11:25 a.m. EDT

Royal Dutch Shell

(RDS.A)

named Jorma Ollila, the current chairman and CEO of

Nokia

(NOK) - Get Report

, to succeed Aad Jacobs as the company's nonexecutive chairman starting next June.

By joining Royal Dutch, Ollila will become part of a newly unified Netherlands-based energy and petrochemicals powerhouse that operates in more than 140 countries and territories. The company was previously two separate corporations, Royal Dutch Petroleum and Shell Transport and Trading, which together made up the Royal Dutch/Shell Group.

"We were looking worldwide for a chairman with international standing, a global outlook, and proven success in managing a complex organization," Lord Kerr of Kinlochard, Shell's deputy chairman, said in a statement on the company's Web site. "In Jorma Ollila we found all these qualities, and more."

Earlier this week Nokia said Ollila would relinquish his post in about a year. Olli-Pekka Kallasvuo will succeed him at the cell-phone maker's helm.

At the time, Nokia said it would propose that Ollila stay on as nonexecutive chairman after the transition, and the company still plans for that to be the case.

"It is his intention to have this dual role," said Arja Suominen, the vice president for Nokia's corporate communications.

In a statement, Ollila, 54, said: "I look forward to working closely with

Chief Executive Jeroen van der Veer and the Royal Dutch Shell Board. This is a wonderful opportunity with a great global company at a pivotal time for the energy industry. I look forward to being part of the team in The Hague."

Royal Dutch Shell began its life as a unified company last month. Two American depositary receipts trade in the U.S. The "A" shares are owned by former Royal Dutch Petroleum holders, and the "B" shares are held by previous stockholders of Shell Transport and Trading.

The Class A ADRs were down 49 cents to $63.50, and the Class B issue was slipping 2 cents to $65.97.