By Angus Robertson
The news for Nokia (NOK) just keeps getting worse, with Standard & Poor?s this week following Fitch in downgrading the company?s debt and Moody?s likely to do the same. Meanwhile chief technology officer Richard L. Green, an American who joined Nokia last year from Sun Microsystems, took a leave of absence and is not expected to return.
Standard & Poor?s cut the company?s ranking one level to BBB+, two days after Fitch Ratings downgraded it to BBB-, a step above speculative grade.
Nokia said Mr. Green had taken a leave ?to attend to a personal matter.? The Helsingin Sanomat newspaper reported that Mr. Green was unhappy with management decisions, including abandoning plans to introduce devices based on the MeeGo smartphone operating system that had been under development with the chip maker Intel (INTC).
And CEO Nokia CEO Stephen Elop continues to fend off rumors of a sale
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