22nd Sep 2011 07:30
Nokia / Directorate change 22.09.2011 08:30 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 CorporationStock exchange releaseSeptember 22, 2011 at 9.30 (CET+1) Espoo, Finland - Nokia announced today that Henry Tirri has been appointedexecutive vice president, Chief Technology Officer and a member of the NokiaLeadership Team, effective September 22, 2011. He reports directly to Presidentand CEO Stephen Elop. As Chief Technology Officer, Tirri assumes responsibility for the CTOorganization, charged with setting Nokia's technology agenda both now and inthe future, and driving core innovation to enable business developmentopportunities. Previously, Tirri was Head of Nokia Research Centre (NRC), Nokia's forwardlooking research facility. He joined Nokia in 2004 as a Research Fellow beforeleading NRC Systems Research laboratory in 2007. He holds a Ph.D. in ComputerScience from the University of Helsinki, Finland. Tirri will be based inSunnyvale, California. Richard Green, who was appointed Chief Technology Officer in May 2010, and wasa member of the Nokia Leadership Team since February 11, 2011, has elected todepart Nokia. Effective September 22, 2011, he is no longer a member of theNokia Leadership Team. Green will be returning full time to the U.S. to pursuenew opportunities. 'During his time at Nokia, Henry has provided Nokia technical leadership andchallenged us to explore forward-looking technologies. In his new role, Henrywill have the opportunity to make a greater impact and set the course for Nokiaand our role in the mobile industry,' said Nokia President and CEO StephenElop. 'The company would also like to thank Rich Green for the key role heplayed in assisting Nokia through a major transition. We wish him all the bestsuccess in his future ventures.' About NokiaNokia is committed to connecting people to what matters to them by combiningadvanced mobile technology with personalized services. More than 1.3 billionpeople connect to one another with a Nokia, from our most affordablevoice-optimized mobile phones to advanced Internet-connected smartphones soldin virtually every market in the world. Through our services, people also enjoyaccess to maps and navigation on mobile, a rapidly expanding applicationsstore, a growing catalog of digital music, and more. Nokia's NAVTEQ is a leaderin comprehensive digital mapping and navigation services, and Nokia SiemensNetworks is one of the leading providers of telecommunications infrastructurehardware, software and professional services globally. FORWARD-LOOKING STATEMENTSIt should be noted that certain statements herein which are not historicalfacts are forward-looking statements, including, without limitation, thoseregarding: A) the expected plans and benefits of our strategic partnership withMicrosoft to combine complementary assets and expertise to form a global mobileecosystem and to adopt Windows Phone as our primary smartphone platform; B) thetiming and expected benefits of our new strategy, including expectedoperational and financial benefits and targets as well as changes in leadershipand operational structure; C) the timing of the deliveries of our products andservices; D) our ability to innovate, develop, execute and commercialize newtechnologies, products and services; E) expectations regarding marketdevelopments and structural changes; F) expectations and targets regarding ourindustry volumes, market share, prices, net sales and margins of products andservices; G) expectations and targets regarding our operational priorities andresults of operations; H) expectations and targets regarding collaboration andpartnering arrangements; I) the outcome of pending and threatened litigation;J) expectations regarding the successful completion of acquisitions orrestructurings on a timely basis and our ability to achieve the financial andoperational targets set in connection with any such acquisition orrestructuring; and K) statements preceded by 'believe,' 'expect,' 'anticipate,''foresee,' 'target,' 'estimate,' 'designed,' 'plans,' 'will' or similarexpressions. These statements are based on management's best assumptions andbeliefs in light of the information currently available to it. Because theyinvolve risks and uncertainties, actual results may differ materially from theresults that we currently expect. Factors that could cause these differencesinclude, but are not limited to: 1) our ability to succeed in creating acompetitive smartphone platform for high-quality differentiated winningsmartphones or in creating new sources of revenue through our partnership withMicrosoft; 2) the expected timing of the planned transition to Windows Phone asour primary smartphone platform and the introduction of mobile products basedon that platform; 3) our ability to maintain the viability of our currentSymbian smartphone platform during the transition to Windows Phone as ourprimary smartphone platform; 4) our ability to realize a return on ourinvestment in MeeGo and next generation devices, platforms and userexperiences; 5) our ability to build a competitive and profitable globalecosystem of sufficient scale, attractiveness and value to all participants andto bring winning smartphones to the market in a timely manner; 6) our abilityto produce mobile phones in a timely and cost efficient manner withdifferentiated hardware, localized services and applications; 7) our ability toincrease our speed of innovation, product development and execution to bringnew competitive smartphones and mobile phones to the market in a timely manner;8) our ability to retain, motivate, develop and recruit appropriately skilledemployees; 9) our ability to implement our strategies, particularly our newmobile product strategy; 10) the intensity of competition in the variousmarkets where we do business and our ability to maintain or improve our marketposition or respond successfully to changes in the competitive environment; 11)our ability to maintain and leverage our traditional strengths in the mobileproduct market if we are unable to retain the loyalty of our mobile operatorand distributor customers and consumers as a result of the implementation ofour new strategy or other factors; 12) our success in collaboration andpartnering arrangements with third parties, including Microsoft; 13) thesuccess, financial condition and performance of our suppliers, collaborationpartners and customers; 14) our ability to source sufficient quantities offully functional quality components, subassemblies and software on a timelybasis without interruption and on favorable terms, including the disruption ofproduction and/or deliveries from any of our suppliers as a result of adverseconditions in the geographic areas where they are located; 15) our ability tomanage efficiently our manufacturing, service creation, delivery and logisticswithout interruption; 16) our ability to ensure the timely delivery ofsufficient volumes of products that meet our and our customers' and consumers'requirements and manage our inventory and timely adapt our supply to meetchanging demands for our products; 17) any actual or even alleged defects orother quality, safety and security issues in our products; 18) any actual oralleged loss, improper disclosure or leakage of any personal or consumer datacollected or made available to us or stored in or through our products; 19) ourability to successfully manage costs, including our ability to achieve targetedcosts reductions and to effectively and timely execute related restructuringmeasures, including personnel reductions; 20) our ability to effectively andsmoothly implement the new operational structure for our devices and servicesbusiness effective April 1, 2011; 21) the development of the mobile and fixedcommunications industry and general economic conditions globally andregionally; 22) exchange rate fluctuations, including, in particular,fluctuations between the euro, which is our reporting currency, and the USdollar, the Japanese yen and the Chinese yuan, as well as certain othercurrencies; 23) our ability to protect the technologies, which we or othersdevelop or that we license, from claims that we have infringed third parties'intellectual property rights, as well as our unrestricted use on commerciallyacceptable terms of certain technologies in our products and services; 24) ourability to protect numerous Nokia, NAVTEQ and Nokia Siemens Networks patented,standardized or proprietary technologies from third-party infringement oractions to invalidate the intellectual property rights of these technologies;25) the impact of changes in government policies, trade policies, laws orregulations and economic or political turmoil in countries where our assets arelocated and we do business; 26) any disruption to information technologysystems and networks that our operations rely on; 27) unfavorable outcome oflitigations; 28) allegations of possible health risks from electromagneticfields generated by base stations and mobile products and lawsuits related tothem, regardless of merit; 29) our ability to achieve targeted costs reductionsand increase profitability in Nokia Siemens Networks and to effectively andtimely execute related restructuring measures; 30) Nokia Siemens Networks'ability to maintain or improve its market position or respond successfully tochanges in the competitive environment; 31) Nokia Siemens Networks' liquidityand its ability to meet its working capital requirements; 32) whether NokiaSiemens Networks is able to successfully integrate the acquired assets ofMotorola Solutions' networks business, retain existing customers of theacquired business, cross-sell Nokia Siemens Networks' products and services tocustomers of the acquired business and otherwise realize the expected synergiesand benefits of the acquisition; 33) Nokia Siemens Networks' ability to timelyintroduce new products, services, upgrades and technologies; 34) Nokia SiemensNetworks' success in the telecommunications infrastructure services market andNokia Siemens Networks' ability to effectively and profitably adapt itsbusiness and operations in a timely manner to the increasingly diverse serviceneeds of its customers; 35) developments under large, multi-year contracts orin relation to major customers in the networks infrastructure and relatedservices business; 36) the management of our customer financing exposure,particularly in the networks infrastructure and related services business; 37)whether ongoing or any additional governmental investigations into allegedviolations of law by some former employees of Siemens AG may involve and affectthe carrier-related assets and employees transferred by Siemens AG to NokiaSiemens Networks; 38) any impairment of Nokia Siemens Networks customerrelationships resulting from ongoing or any additional governmentalinvestigations involving the Siemens carrier-related operations transferred toNokia Siemens Networks; as well as the risk factors specified on pages 12-39 ofNokia's annual report Form 20-F for the year ended December 31, 2010 under Item3D. 'Risk Factors.' Other unknown or unpredictable factors or underlyingassumptions subsequently proving to be incorrect could cause actual results todiffer materially from those in the forward-looking statements. Nokia does notundertake any obligation to publicly update or revise forward-lookingstatements, whether as a result of new information, future events or otherwise,except to the extent legally required. Media Enquiries: NokiaCommunicationsTel. +358 7180 34900Email: [email protected] www.nokia.comNews Source: NASDAQ OMX 22.09.2011 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: 907Time of Receipt: Sep 22, 2011 08:30:05 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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