Summary Box: Nokia swaps veteran for Microsoft exec Stephen Elop as company chief

Summary Box: Nokia turns to Microsoft exec for CEO

JOB SWITCH: Nokia Corp. is hiring Microsoft Corp. executive Stephen Elop to replace Olli-Pekka Kallasvuo as CEO.

GLOBAL VIEW: The choice of a North American executive to lead a Finnish company reflects the increasing dominance of U.S. and Canadian companies in the evolution of the phone business.

REACTION: Analysts welcomed the choice. Elop has a background in software, which is increasingly what distinguishes various phones as the hardware becomes uniform.