Microsoft swallows Nokia's phone business for $7.2 billion | Reuters

Microsoft swallows Nokia's phone business for $7.2 billion | Reuters


Retiring CEO Steve Ballmer is trying to remake Microsoft into a gadget and services company like Apple, a move that has not won the endorsement of all shareholders.

Nokia CEO Elop, who ran Microsoft's business software division before jumping ship in 2010, will return to the U.S. firm to head up its mobile devices business just as the company's board considers a successor to Ballmer, who announced last week he will retire within a year.

Elop, who presided over Nokia's market share collapse and a shriveling share price during his three years at the helm, is being discussed as a potential replacement because he remains respected and is considered one of the few who can fully grasp Microsoft's sprawling empire.