16th Oct 2009 06:30
Nokia / Directorate change 16.10.2009 07:30 Dissemination of a UK Regulatory Announcement, transmitted byDGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.--------------------------------------------------------------------------- Nokia Corporation Stock Exchange Release October 16, 2009 at 08:30 am (CET +1) Changes in roles of Nokia management team members: Rick Simonson to head MobilePhones business, Timo Ihamuotila appointed as CFO Finland, Espoo - Nokia today announced some changes in the roles of its Group Executive Board members. Rick Simonson, currently Nokia Chief FinancialOfficer,has been appointed to head of the Mobile Phones entity within the Devicesunit as of November 1, 2009. He will also head strategic sourcing for the wholeof 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 intooperation 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 usedbyhundreds 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 beamember of the Group Executive Board. Says Nokia CEO, Olli-Pekka Kallasvuo: 'After six successful years as CFO, it isgreat 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 ofbusiness areas will be a tremendous asset in his position as CFO.' AboutNokia Nokia isa pioneer in mobile telecommunications and the world's leading maker ofmobiledevices. Today, we are connecting people in new and different ways - fusingadvanced mobile technology with personalized services to enable people tostayclose 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 Itshould be noted that certain statements herein which are not historical facts, including, without limitation, those regarding: A) the timing ofproduct,services and solution deliveries; B) our ability to develop, implement andcommercialize new products, services, solutions and technologies; C) our abilitytodevelop and grow our consumer Internet services business; D) expectations regarding market developments and structural changes; E) expectations regardingour mobile device volumes, market share, prices and margins; F) expectationsandtargets for our results of operations; G) the outcome of pending and threatenedlitigation; H) expectations regarding the successful completion of contemplatedacquisitions 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 thegrowth 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 marketposition or respond successfully to changes in the competitive landscape; 4) competitiveness of our product, services and solutions portfolio; 5) our abilitytosuccessfully manage costs; 6) exchange rate fluctuations, including, in particular, fluctuations between the euro, which is our reporting currency, andthe US dollar, the Japanese yen, the Chinese yuan and the UK pound sterling, aswell 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 technologiesasrequired 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, tradepolicies,laws or regulations or political turmoil in countries where we dobusiness; 12) our success in collaboration arrangements with others relating todevelopment oftechnologies or new products, services and solutions; 13) ourability to manage efficiently our manufacturing and logistics, as well as toensure the quality, safety, security and timely delivery of our products,services and solutions; 14) inventory management risks resulting from shifts inmarket demand; 15) our ability to protect the complex technologies, which we orothers develop or that we license, from claims that we have infringed thirdparties' intellectual property rights, as well as our unrestricted use oncommercially acceptable terms of certain technologies in our products,services and solutions; 16) our ability to protect numerous Nokia, NAVTEQ andNokia Siemens Networks patented, standardized or proprietary technologies fromthird-party infringement or actions to invalidate the intellectual propertyrights of these technologies; 17) any disruption to information technologysystems and networks that our operations rely on; 18) developments underlarge, multi-year contracts or in relation to major customers; 19) themanagement of our customer financing exposure; 20) our ability to retain,motivate, develop and recruit appropriately skilled employees; 21)whether, as a result of investigations intoalleged violations of law by someformer employees of Siemens AG ('Siemens'), government authorities or otherstake further actions against Siemens and/or itsemployees that may involve andaffect the carrier-related assets and employees transferred by Siemens to NokiaSiemens Networks, or there may be undetected additional violations that mayhave occurred prior to the transfer, or violations that may have occurredafter the transfer, of such assets and employees that could result inadditional actions by government authorities; 22)any impairment of Nokia SiemensNetworks customer relationships resulting from the ongoing governmentinvestigations involving the Siemens carrier-related operations transferred toNokia Siemens Networks; 23) unfavorable outcome of litigations; 24) allegationsof possible health risks from electromagnetic fields generated by basestations 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 onForm 20-F for the year ended December 31, 2008 underItem 3D. 'Risk Factors.' Otherunknown or unpredictable factors or underlying assumptions subsequently provingto be incorrect 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. Media Enquiries: Nokia, Communications Tel. +358 7180 34900 Email: [email protected] www.nokia.comNews Source: NASDAQ OMX 16.10.2009 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: BOALSE Ticker: 0HAFSequence Number: 302Time of Receipt: Oct 16, 2009 07:29:58 End of Announcement DGAP News-Service ---------------------------------------------------------------------------UK-Regulatory-announcement transmitted by DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.
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