Microsoft Corporation (NASDAQ:MSFT) has lost one of their senior executives to their smartphone rival, Nokia.

Nokia Poach Microsoft Corporation (NASDAQ:MSFT) Boss

Stephen Elop, senior executive at Microsoft Corporation (NASDAQ:MSFT), has been appointed as the Chief Executive at Nokia.

The new placement is calculated to be a part of the Finnish giant’s attempts to reclaim their previous dominance in the mobile market.

The Smart Phone market, that used to be completely dominated by Nokia, has recently been taken over by some other major players – including Apple’s iPhone, Blackberry and some major Android based smart phones.

Former CEO and Board Chairman Jorma Ollila said that “The time is right to accelerate the company’s renewal; to bring in new executive leadership with different skills and strengths in order to drive company success.”

View the full MSFT chart at Wikinvest

Microsoft Corp. Stock Info

As of 9/9/2010 (Last trade – 4:00pm), the Microsoft Corp. (NASDAQ:MSFT) stocks are sitting at 24.01.

Over the past three months there has been a -4.0% change in the Microsoft Corp. (NASDAQ:MSFT) stock price.

We’ll be keeping a close eye on the Microsoft Corp. (NASDAQ:MSFT) stock level for developments over the next few weeks.