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Nokia CEO Elop to move to Microsoft, chairman to take over

Nokia Chief Executive Stephen Elop demonstrates the camera technology of the company's latest high-end smartphone, the Lumia 1020, at the company's headquarters in Espoo, during an interview with Reuters, July 17, 2013. REUTERS/Ritsuko Ando

HELSINKI (Reuters) - Nokia (:NOK1V.HE) said its chief executive, Stephen Elop, will move to Microsoft Corp (NasdaqGS:MSFT - News) when the deal to acquire Nokia's handset business is closed.

Nokia board chairman Risto Siilasmaa will take over CEO duties while the Finnish firm is looking for a new CEO.

Elop was hired as Nokia CEO in 2010 from Microsoft.

(Reporting by Terhi Kinnunen; Editing by Matt Driskill)