20th Aug 2014 08:00
Nokia / Miscellaneous 20.08.2014 08:00 Dissemination of a Regulatory Announcement, transmitted byDGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.--------------------------------------------------------------------------- Nokia CorporationStock Exchange ReleaseAugust 20, 2014 at 9:00 (CET +1) Espoo, Finland - Nokia today announced that Michael Halbherr has decided tostep down as CEO of HERE and as a member of the Nokia Group Leadership Team,effective September 1, 2014, in order to pursue his own entrepreneurialinterests outside of the company. 'I would like to thank Michael for his leadership, passion and achievementsduring his eight years with Nokia,' said Rajeev Suri, President and CEO ofNokia. 'He has played a key role in making HERE one of the strongest playersin its sector, with a depth and breadth that is unique. He leaves with my bestwishes and the gratitude of all of Nokia.' Cliff Fox, currently Senior Vice President, Core Map Group, at HERE, willassume the position of acting head of HERE, effective September 1, 2014. Asearch for a permanent leader of HERE will start immediately inside and outsidethe organization. Michael Halbherr said: 'It has been a pleasure and honor to work withremarkable and smart people during my time at Nokia and HERE. I am proud thatwe have been able to create a leading location cloud company widely recognizedacross industries, by customers and by opinion leaders. Now the time is rightfor me to focus once again on entrepreneurial activities. I wish the team thebest of success for the future.' FORWARD-LOOKING STATEMENTS It should be noted that Nokia and its business are exposed to various risks anduncertainties and certain statements herein that are not historical facts areforward-looking statements, including, without limitation, those regarding: A)expectations, plans or benefits related to Nokia's strategies; B) expectations,plans or benefits related to future performance of Nokia's continuingbusinesses Nokia Networks, HERE and Nokia Technologies; C) expectations, plansor benefits related to changes in leadership and operational structure; D)expectations regarding market developments, general economic conditions andstructural changes; E) expectations and targets regarding performance,including those related to market share, prices, net sales and margins; F) thetiming of the deliveries of our products and services; G) expectations andtargets regarding our financial performance, cost savings and competitiveness,as well as results of operations; H) expectations and targets regardingcollaboration and partnering arrangements; I) the outcome of pending andthreatened litigation, arbitration, disputes, regulatory proceedings orinvestigations by authorities; J) expectations regarding restructurings,investments, uses of proceeds from transactions, acquisitions and divestmentsand our ability to achieve the financial and operational targets set inconnection with any such restructurings, investments, divestments andacquisitions, including any expectations, plans or benefits related to orcaused by the transaction announced on September 3, 2013 where Nokia soldsubstantially all of the Devices & Services business to Microsoft on April 25,2014 ('Sale of the D&S Business'); K) statements preceded by or including'believe,' 'expect,' 'anticipate,' 'foresee,' 'sees,' 'target,' 'estimate,''designed,' 'aim', 'plans,' 'intends,' 'focus', 'continue', 'project','should', 'will' or similar expressions. These statements are based onmanagement's best assumptions and beliefs in light of the information currentlyavailable to it. Because they involve risks and uncertainties, actual resultsmay differ materially from the results that we currently expect. Factors,including risks and uncertainties that could cause these differences include,but are not limited to: 1) our ability to execute our strategies successfullyand in a timely manner, and our ability to successfully adjust our operations;2) our ability to sustain or improve the operational and financial performanceof our continuing businesses and correctly identify business opportunities orsuccessfully pursue new business opportunities; 3) our ability to execute NokiaNetworks' strategy and effectively, profitably and timely adapt its businessand operations to the increasingly diverse needs of its customers andtechnological developments; 4) our ability within our Nokia Networks businessto effectively and profitably invest in and timely introduce new competitivehigh-quality products, services, upgrades and technologies; 5) our ability toinvent new relevant technologies, products and services, to develop andmaintain our intellectual property portfolio and to maintain the existingsources of intellectual property related revenue and establish new suchsources; 6) our ability to protect numerous patented standardized orproprietary technologies from third-party infringement or actions to invalidatethe intellectual property rights of these technologies; 7) our ability withinour HERE business to maintain current sources of revenue, historically derivedmainly from the automotive industry, create new sources of revenue, establish asuccessful location-based platform and extend our location-based servicesacross devices and operating systems; 8) effects of impairments or charges tocarrying values of assets, including goodwill, or liabilities; 9) ourdependence on the development of the mobile and communications industry innumerous diverse markets, as well as on general economic conditions globallyand regionally; 10) Nokia Networks business' dependence on a limited number ofcustomers and large, multi-year contracts; 11) our ability to retain, motivate,develop and recruit appropriately skilled employees; 12) the potential complextax issues and obligations we may face, including the obligation to payadditional taxes in various jurisdictions and our actual or anticipatedperformance, among other factors, could result in allowances related todeferred tax assets; 13) our ability to manage our manufacturing, servicecreation and delivery, and logistics efficiently and without interruption,especially if the limited number of suppliers we depend on fail to deliversufficient quantities of fully functional products and components or delivertimely services; 14) potential exposure to contingent liabilities due to theSale of the D&S Business and possibility that the agreements we have enteredinto with Microsoft may have terms that prove to be unfavorable to us; 15) anyinefficiency, malfunction or disruption of a system or network that ouroperations rely on or any impact of a possible cybersecurity breach; 16) ourability to reach targeted results or improvements by managing and improving ourfinancial performance, cost savings and competitiveness; 17) management ofNokia Networks' customer financing exposure; 18) the performance of the partieswe partner and collaborate with, and our ability to achieve successfulcollaboration or partnering arrangements; 19) our ability to protect thetechnologies, which we develop, license, use or intend to use from claims thatwe have infringed third parties' intellectual property rights, as well as,impact of possible licensing costs, restriction on our usage of certaintechnologies, and litigation related to intellectual property rights; 20) theimpact of regulatory, political or other developments on our operations andsales in those various countries or regions where we do business; 21) exchangerate fluctuations, particularly between the euro, which is our reportingcurrency, and the US dollar, the Japanese yen and the Chinese yuan, as well ascertain other currencies; 22) our ability to successfully implement plannedtransactions, such as acquisitions, divestments, mergers or joint ventures,manage unexpected liabilities related thereto and achieve the targetedbenefits; 23) the impact of unfavorable outcome of litigation, arbitration,contract related disputes or allegations of health hazards associated with ourbusiness, as well as the risk factors specified on pages 12-35 of Nokia'sannual report on Form 20-F for the year ended December 31, 2013 under Item 3D.'Risk Factors' and in our Interim Report issued on July 24, 2014. Other unknownor unpredictable factors or underlying assumptions subsequently proven to beincorrect could cause actual results to differ materially from those in theforward-looking statements. Nokia does not undertake any obligation to publiclyupdate or revise forward-looking statements, whether as a result of newinformation, future events or otherwise, except to the extent legally required. About HERE and Nokia HERE, a Nokia company, is a leader in navigation, mapping and locationexperiences. We combine highly accurate and fresh maps with cloud technology toenable rich, real-time location experiences in a broad range of connecteddevices - from smartphones and tablets to wearables and vehicles. To learn moreabout HERE, including our work in the areas of connected and autonomousdriving, visit http://360.here.com Nokia invests in technologies important in a world where billions of devicesare connected. We are focused on three businesses: network infrastructuresoftware, hardware and services, which we offer through Nokia Networks;location intelligence, which we provide through HERE; and advanced technologydevelopment and licensing, which we pursue through Nokia Technologies. Each ofthese businesses is a leader in its respective field. http://company.nokia.com Media Enquiries: NokiaCommunicationsTel. +358 (0) 10 448 4900Email: [email protected] Source: NASDAQ OMX 20.08.2014 The DGAP Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: EnglishCompany: Nokia FinlandPhone: Fax: E-mail: Internet: ISIN: FI0009000681Category Code: MSCTIDM: 0HAFSequence Number: 2191Time of Receipt: Aug 20, 2014 08:00:03 End of Announcement DGAP News-Service ---------------------------------------------------------------------------UK-Regulatory-announcement transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.
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