24th Jul 2014 11:36
Nokia / Miscellaneous 24.07.2014 11:36 Dissemination of a Regulatory Announcement, transmitted byDGAP - a company of EQS Group AG.The issuer is solely responsible for the content of this announcement.--------------------------------------------------------------------------- Nokia CorporationStock exchange releaseJuly 24, 2014 at 12:35 (CET +1) Espoo, Finland - Nokia today announced the appointment of Ramzi Haidamus, atechnology-licensing expert with proven business leadership skills and a stronginnovation background, as President of Nokia's technologies business and memberof the Group Leadership team, with effect from September 3, 2014. A trained engineer, Haidamus has spent most of his career with DolbyLaboratories, which he helped to grow from a USD 72 million private businessinto a nearly USD 1 billion thriving public company. During his 17 years withDolby, he held a variety of roles, most recently with chief operatingofficer-level responsibility. He has led innovation efforts, including thoserelated to Dolby's technological roadmaps and standards development for DVD andBluRay. He has experience in nurturing new technologies in an incubator-likeenvironment and in growing new businesses, including as President of ViaLicensing Corporation, a Dolby subsidiary. 'Ramzi has the perfect blend of technology savvy, business leadership andinnovation experience to head our cutting-edge technologies business,' saidRajeev Suri, President and Chief Executive Officer of Nokia. 'With Ramzi at thehead of the world-class Nokia Technologies team and our continuing investmentin advanced research and development, we are well-positioned to drive theinnovation and licensing business needed to move us closer to our goal oftechnology leadership in a world where everyone and everything is connected.' 'I am honored to take on this exciting role at Nokia,' said Haidamus, incomingPresident of Nokia Technologies. 'I relish the opportunity to head Nokia'sground-breaking technologies business with its track record of innovation andteam of hundreds of world-class scientists and engineers. These experts havedriven more than half of Nokia's recent patent filings and are leaders infields that are essential for enabling the connected world.' Born in Lebanon, Haidamus moved at the age of 17 to the US, where he completedhis Bachelor's and Master's degrees in electrical engineering at the Universityof the Pacific. Henry Tirri, who has served as acting head of Nokia Technologies business sinceits formation on May 1, 2014, will continue in this role until Haidamus joinson September 3, 2014. From that date, Tirri will step down from the GroupLeadership Team and will become an advisor to Suri on technology issues. 'We are grateful to Henry for all his work for Nokia over the years and for hiswillingness to lead the Nokia Technologies team during an important time ofchange and transition,' said Suri. 'Henry has graciously agreed to supportRamzi as he transitions into the company. Henry has unique insights into theworld of technology, and I am pleased that we will continue to benefit from hisexpertise throughout this year and possibly beyond.' A photo of Ramzi Haidamus can be downloaded at: http://nokia.ly/1uhFQTS 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 Nokia 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 Nokia Technologies develops and licenses cutting-edge innovations that arepowering the next revolution in computing and mobility: a 'programmable world'where intelligent connections bring millions of everyday objects online andcreate exciting new possibilities. At the heart of Nokia Technologies is aworld-class research and development program. In partnership with leadinguniversities around the world, it expands on Nokia's leading role in creatingand shaping fundamental technologies and standards enabling most mobilecomputing products and wireless communications used today. Our scientists,engineers and licensing experts draw deep expertise in areas ranging fromimaging and sensing, wireless connectivity and power management, to advancedmaterials and beyond. Media Enquiries NokiaCommunicationsTel. +358 (0) 10 448 4900Email: [email protected] Source: NASDAQ OMX 24.07.2014 DGAP's 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: 2138Time of Receipt: Jul 24, 2014 11:36:03 End of Announcement DGAP News-Service ---------------------------------------------------------------------------UK-Regulatory-announcement transmitted by DGAP - a company of EQS Group AG.The issuer is solely responsible for the content of this announcement.
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