Changes in roles of Nokia management team membe...
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Nokia Corporation
Stock Exchange Release
October 16, 2009 at 08:30 am (CET +1)
Finland, Espoo - Nokia today announced some changes in the roles of
its Group Executive Board members. Rick Simonson, currently Nokia
Chief Financial Officer, has been appointed to head of the Mobile
Phones entity within the Devices unit as of November 1, 2009. He will
also head strategic sourcing for the whole of the Devices unit. Rick
Simonson joined Nokia in 2001 and has been CFO since 2004. He will
continue to be a member of the Group Executive Board.
Mobile Phones is one of two new entities within the Devices unit that
came into operation on October 1, 2009, the other being Smartphones.
Mobile Phones leads the portfolio, product and lifecycle management
of all Series 30 and Series 40 devices, which account for more than
half of Devices & Services net sales and therefore represent a
significant part of Nokia's business. Mobile Phones focuses on
driving a media-rich mobile platform in devices that are already used
by hundreds of millions of people and growing, thereby also helping
us to deliver mobile solutions.
Timo Ihamuotila, currently global head of sales, will transfer to the
role of CFO as of November 1, 2009. Timo Ihamuotila first joined
Nokia in 1993 and has held the position of Nokia Corporate Treasurer
as well as several other senior positions in, for example, portfolio
management of devices and most recently global sales of devices and
services. Timo Ihamuotila will also continue to be a member of the
Group Executive Board.
Says Nokia CEO, Olli-Pekka Kallasvuo: "After six successful years as
CFO, it is great to have Rick move to such an important operational
role. 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. In addition to his background in finance,
Timo Ihamuotila's expertise from leading a diverse range of business
areas will be a tremendous asset in his position as CFO."
About Nokia
Nokia is a pioneer in mobile telecommunications and the world's
leading maker of mobile devices. Today, we are connecting people in
new and different ways - fusing advanced mobile technology with
personalized services to enable people to stay close to what matters
to them. We also provide comprehensive digital map information
through NAVTEQ; and equipment, solutions and services for
communications networks through Nokia Siemens Networks.
FORWARD-LOOKING STATEMENTS
It should be noted that certain statements herein which are not
historical facts, including, without limitation, those regarding: A)
the timing of product, services and solution deliveries; B) our
ability to develop, implement and commercialize new products,
services, solutions and technologies; C) our ability to develop and
grow our consumer Internet services business; D) expectations
regarding market developments and structural changes; E) expectations
regarding our mobile device volumes, market share, prices and
margins; F) expectations and targets for our results of operations;
G) the outcome of pending and threatened litigation; H) expectations
regarding the successful completion of contemplated acquisitions on a
timely basis and our ability to achieve the set targets upon the
completion of such acquisitions; and I) statements preceded by
"believe," "expect," "anticipate," "foresee," "target," "estimate,"
"designed," "plans," "will" or similar expressions are
forward-looking statements. These statements are based on
management's best assumptions and beliefs in light of the information
currently available to it. Because they involve risks and
uncertainties, actual results may differ materially from the results
that we currently expect. Factors that could cause these differences
include, but are not limited to: 1) the deteriorating global economic
conditions and related financial crisis and their impact on us, our
customers and end-users of our products, services and solutions, our
suppliers and collaborative partners; 2) the development of the
mobile and fixed communications industry, as well as the growth and
profitability of the new market segments that we target and our
ability to successfully develop or acquire and market products,
services and solutions in those segments; 3) the intensity of
competition in the mobile and fixed communications industry and our
ability to maintain or improve our market position or respond
successfully to changes in the competitive landscape; 4)
competitiveness of our product, services and solutions portfolio; 5)
our ability to successfully manage costs; 6) exchange rate
fluctuations, including, in particular, fluctuations between the
euro, which is our reporting currency, and the US dollar, the
Japanese yen, the Chinese yuan and the UK pound sterling, as well as
certain other currencies; 7) the success, financial condition and
performance of our suppliers, collaboration partners and customers;
8) our ability to source sufficient amounts of fully functional
components, sub-assemblies, software and content without interruption
and at acceptable prices; 9) the impact of changes in technology and
our ability to develop or otherwise acquire and timely and
successfully commercialize complex technologies as required by the
market; 10) the occurrence of any actual or even alleged defects or
other quality, safety or security issues in our products, services
and solutions; 11) the impact of changes in government policies,
trade policies, laws or regulations or political turmoil in countries
where we do business; 12) our success in collaboration arrangements
with others relating to development of technologies or new products,
services and solutions; 13) our ability to manage efficiently our
manufacturing and logistics, as well as to ensure the quality,
safety, security and timely delivery of our products, services and
solutions; 14) inventory management risks resulting from shifts in
market demand; 15) our ability to protect the complex technologies,
which we or others develop or that we license, from claims that we
have infringed third parties' intellectual property rights, as well
as our unrestricted use on commercially acceptable terms of certain
technologies in our products, services and solutions; 16) our ability
to protect numerous Nokia, NAVTEQ and Nokia Siemens Networks
patented, standardized or proprietary technologies from third-party
infringement or actions to invalidate the intellectual property
rights of these technologies; 17) any disruption to information
technology systems and networks that our operations rely on; 18)
developments under large, multi-year contracts or in relation to
major customers; 19) the management of our customer financing
exposure; 20) our ability to retain, motivate, develop and recruit
appropriately skilled employees; 21) whether, as a result of
investigations into alleged violations of law by some former
employees of Siemens AG ("Siemens"), government authorities or others
take further actions against Siemens and/or its employees that may
involve and affect the carrier-related assets and employees
transferred by Siemens to Nokia Siemens Networks, or there may be
undetected additional violations that may have occurred prior to the
transfer, or violations that may have occurred after the transfer, of
such assets and employees that could result in additional actions by
government authorities; 22) any impairment of Nokia Siemens Networks
customer relationships resulting from the ongoing government
investigations involving the Siemens carrier-related operations
transferred to Nokia Siemens Networks; 23) unfavorable outcome of
litigations; 24) allegations of possible health risks from
electromagnetic fields generated by base stations and mobile devices
and lawsuits related to them, regardless of merit; as well as the
risk factors specified on pages 11-28 of Nokia's annual report on
Form 20-F for the year ended December 31, 2008 under Item 3D. "Risk
Factors." Other unknown or unpredictable factors or underlying
assumptions subsequently proving to be incorrect could cause actual
results to differ materially from those in the forward-looking
statements. Nokia does not undertake any obligation to publicly
update or revise forward-looking statements, whether as a result of
new information, future events or otherwise, except to the extent
legally required.
Media Enquiries:
Nokia,
Communications
Tel. +358 7180 34900
Email: press.services@nokia.com
www.nokia.com
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NOKIA
P.O. Box 226<br>FIN-00045 NOKIA GROUP Espoo
WKN: 870737;
ISIN: FI0009000681; Index: DJ STOXX Large 200, DJ STOXX 50;
Listed: Nordic list (Large Cap) in THE HELSINKI STOCK EXCHANGE;
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