STOCKHOLM -- Nokia Corp. said Friday that Chief Financial Officer Rick Simonson will leave his role on Nov. 1 to head the company's mobile-phones sector in the devices unit.

Timo Ihamuotila, 43, who is currently global head of sales, will replace him.

The world's largest handset maker said Mr. Simonson, 51, will also head strategic sourcing for the entire devices unit. "Rick Simonson's deep knowledge of the business and its financials will be valuable for the significant part mobile phones plays in Nokia's business," Chief Executive Officer Olli-Pekka Kallasvuo said.