Nokia is looking for a new chief executive to replace current holder of the position Olli-Pekka Kallasvuo, according to a report.
The Finnish manufacturer is battling to stave off competitors in the smartphone market, even though Nokia remains the top selling mobile producer.
Now, the Wall Street Journal (WSJ) has cited "people familiar with the situation" suggesting that Kallasvuo could be in line for an ousting.
One source said Nokia is "serious about making a change" and board members are due to make a decision by the end of this month, leaving them with just 11 days to either sack or retain Kallasvuo.
The same source claimed a chief executive of a big US tech company had turned down an approach made by Nokia as they did not want to make the move over to Finland.
At least one other US executive has been flown over to Finland for an interview, the anonymous person added.
Nokia declined to comment on the speculation.
If Kallasvuo is replaced, this would be a good move for the company, according to vice president and distinguished analyst at Gartner Nick Jones.
He believes Nokia needs to find its own "European Steve Jobs" to help boost the firm and reinvigorate investors' confidence.
"The new CEO needs the experience to run a company the size of Nokia, the charisma to pacify investors, the knowledge to recognise bad products and strategies, and the courage to kill them," Jones wrote in a blog post.
"I believe the new CEO needs to be someone already in the mobile space, because an outsider would take too long to get up to speed on how this business works. But there aren't a lot of obvious candidates who have all these traits plus the ability to fit into a Finnish management culture."
Last month, Nokia downgraded its sales expectations for the year in the face of strong competition from the likes of Apple in the smartphone sphere.
The company is set to announce its second quarter results this Thursday.
