Nokia CEO Elop is odds-on favourite to become next Microsoft chief

Chair thrower to be replaced by iPhone thrower

Nokia chief executive Stephen Elop is now the firm favourite to become the next Microsoft chief in reaction to the deal between the two firms.

On Monday evening, Microsoft announced a €5.44bn deal to purchase Nokia's device business and license its patents. On news of the deal, odds have fallen dramatically for ex-Microsoft executive Elop taking over at his previous employer when Steve Ballmer retires next year.

Last Friday, Ladbrokes sportsbook for the next Microsoft CEO was offering odds of 5/1 for Elop, but punters can now get a less attractive 2/5 on the Canadian taking over the reins. The lower odds are in light of Elop looking more of a dead cert for the role now he has rejoined Microsoft.

The Nokia deal indicates Microsoft's mobile intentions, and Elop could be a savvy choice if the firm is determined to go mobile-first across the organisation. Rising sales of Windows Mobile on Nokia handsets indicate that Elop has the right approach for breaking into this hotly-contested market, but while Microsoft has managed to overtake BlackBerry as number three smartphone platform, it's still far behind Android and iOS.

Other potential Ballmer replacements have now fallen far behind Elop. Facebook COO Sheryl Sandberg is now second favourite to take on Microsoft, but she is seen as a much less likely choice than Elop with odds at 7/1.

Ex-Microsofter Steve Sinofsky is now at 12/1, compared to 8/1 last week, while Kevin Turner, current chief operating officer at Microsoft and former CIO at Wal-Mart, has moved from second favourite at 6/1 to 16/1 on Tuesday.

Yahoo chief and ex-Googler Marissa Meyer, Twitter founder Jack Dorsey, Apple design guru Jony Ive and Apple chief Tim Cook have all been dropped from the Ladbrokes sportsbook over the weekend, as has Microsoft founder Bill Gates, even though many in the industry were touting him as the logical choice.