Microsoft have decided that Stephan Elop, Executive Vice President, Devices & Services at Nokia and Former CEO of Nokia Corporation, will be taking over the entirety of the Xbox division. This is following Don Mattrick, who left the company after the launch of the Xbox one.
Microsoft also chose Julie Larson-Green,20-year Microsoft veteran Larson-Green had led the Devices and Studios group with responsibility for all hardware development including Xbox, Surface and accessories and also oversaw Microsoft Studios, which “include(d) development of games, entertainment and premium content experiences for all devices across the company, to take up the role of Chief Experience Officer (CXO) of the “My Life & Work” team in Lu’s Applications and Services Group (ASG). She will be working along side Elop once the Nokia acquisition is complete, until when she will be continuing her current role.
Many feel however that appointing Elop to head the Xbox division could be a bad thing. His track record at Nokia suggests “During the 3 years Elop was Nokia CEO, Nokia revenues fell 40%, Nokia profits fell 95%, Nokia market share collapsed in smartphones from 34% to 3.4%, Nokia’s credit rating went from A to junk, Nokia’s share price dropped 60% in value and Nokia’s market capitalization lost 13 Billion dollars in value. The Financial Times calculated that Nokia shareholders ended up paying Elop a bonus of 1 million Euros for every 1.5 billion in market capital that Elop was able to destroy while Nokia CEO.”
What will become of the Xbox is still a big question mark. Maybe he might do well here. We will have to wait and see how this pans out.
Source : Extremetech, wikipedia
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