Nokia

(NOK) - Get Report

will restructure into four business groups effective Jan. 1, and the company said it named Rick Simonson senior vice president and chief financial officer.

The company's mobile phones unit will be led by Olli-Pekka Kallasvuo, whom Simonson will replace as CFO.

Nokia will have a multimedia unit that will focus on bringing mobile multimedia to consumers in the form of images, games, music and other content. Anssi Vanjoki will be executive vice president and general manager of the multimedia division.

Nokia's networks unit will be another division, headed by Sari Baldauf, and the enterprise solutions unit, announced in July, will provide various terminals and mobile connectivity products. A general manager of enterprise solutions will be named later.

The company is also setting up "horizontal functions" to work with all four business groups. Sales and marketing, as well as manufacturing, logistics and sourcing will be organized globally and headed by Pekka Ala-Pietila. He will also continue as president of Nokia.

Pertti Korhonen, senior vice president and chief technology officer of Nokia, will be in charge of technology. Matti Alahuhta will be executive vice president and chief strategy officer with responsibility for corporate strategy and development, research, venturing and business infrastructure.

Simonson and Hallstein Moerk, senior vice president of human resources, have been appointed to the Nokia Group executive board as new members. They will both report to Jorma Ollila, chairman and CEO. Ollila will continue to be chairman of the executive board.

Shares of Nokia were down 6 cents to $15.01 in Instinet premarket trading.