The report explained that the current CEO Olli-Pekka Kallasvuo will be removed by the end of Jul 2010 because he has struggled to keep up with quicker rivals Apple and Google.
The report also revealed that a major US high-tech company's CEO had rejected Nokia's approach after meeting with Chairman Jorma Ollila, because that candidate had not been keen on moving to Finland.
Kallasvuo has come under attack from shareholders in 2010 as the stock price waned. Shares in Nokia fell to their lowest in the middle of Jul 2010. Analysts say Nokia's market-share position could weaken further in coming months.