Nokia Corporation Stock Exchange Release June 19, 2019 at 08:00
(CET +1)
Nassib Abou-Khalil named Chief Legal Officer, Jenni Lukander
named President of Nokia Technologies and as members of Nokia Group
Leadership Team
Espoo, Finland - Nokia today announced that Nassib Abou-Khalil
will become Chief Legal Officer for Nokia and Jenni Lukander will
become President of Nokia Technologies. Both will report to
Nokia President and Chief Executive Officer, Rajeev Suri, and
become members of the Group Leadership Team. These
appointments are effective on August 1, 2019.
Abou-Khalil and Lukander will succeed Maria Varsellona who will
be leaving Nokia at the end of October to join ABB.
"Jenni and Nassib are ideally positioned for their new roles",
said Suri. "Both are strong leaders with deep expertise and
track records of performance. I want to thank Maria for her
many contributions to Nokia. She leaves us with my respect
and gratitude for her leadership over the last six years."
Jenni Lukander, currently Head of Patent Business, will take the
role of President of Nokia Technologies and join the Group
Leadership Team (GLT). Lukander joined Nokia in 2007, since when
she has led patent licensing, litigation, competition law and other
regulatory matters. Lukander is an internationally renowned IP and
competition law professional who started her career as an attorney
at a leading law firm in Helsinki. She has a Master's in Law from
the University of Helsinki.
Nassib Abou-Khalil, currently Deputy Chief Legal Officer,
Business, will become Chief Legal Officer and also join the GLT.
Abou-Khalil joined Nokia in 2014 as head of Legal & Compliance
for Middle East & Africa and prior to this had Regional Counsel
roles for Yahoo and GE. He led the integration of the compliance
programs of Alcatel-Lucent and Nokia to ensure a strong unified
approach for Nokia for the future and more recently has led our
customer facing legal operations and is a strong advocate for the
digitization of the function. He has a Master's Degree in
International Trade Law as well as a Civil Law Degree, a Bachelor's
Degree in Common Law and a BA in Political Sciences all from the
University of Ottawa. He is admitted to the Ontario Bar and to the
Roll of Solicitors in England and
Wales.
As a result of these changes, Nokia's Group Leadership Team will
consist of the following members effective August 1, 2019: Rajeev
Suri, Nassib Abou-Khalil, Basil Alwan, Hans-Juergen Bill, Kathrin
Buvac, Ricky Corker, Joerg Erlemeier, Barry French, Sanjay Goel,
Bhaskar Gorti, Federico Guillén, Jenni Lukander, Sandra Motley,
Kristian Pullola, Sri Reddy, Tommi Uitto and Marcus Weldon.
Additional background on all current members of the GLT can be
found at
http://www.nokia.com/en_int/investors/corporate-governance/group-leadership-team
About NokiaWe create the technology to connect the world.
We develop and deliver the industry's only end-to-end portfolio of
network equipment, software, services and licensing that is
available globally. Our customers include communications service
providers whose combined networks support 6.1 billion
subscriptions, as well as enterprises in the private and public
sector that use our network portfolio to increase productivity and
enrich lives.
Through our research teams, including the world-renowned Nokia
Bell Labs, we are leading the world to adopt end-to-end 5G networks
that are faster, more secure and capable of revolutionizing lives,
economies and societies. Nokia adheres to the highest ethical
business standards as we create technology with social purpose,
quality and integrity. www.nokia.com
Media InquiriesNokia Communications Tel. +358 (0)
10 448 4900 Email: press.services@nokia.com Jon Peet, Vice
President, Corporate Communications
FORWARD-LOOKING STATEMENTSIt should be noted that Nokia
and its businesses are exposed to various risks and uncertainties
and certain statements herein that are not historical facts are
forward-looking statements. These forward-looking statements
reflect Nokia's current expectations and views of future
developments and include statements regarding: A) expectations,
plans or benefits related to our strategies and growth management;
B) expectations, plans or benefits related to future performance of
our businesses and any expected future dividends; C) expectations
and targets regarding financial performance, results, operating
expenses, taxes, currency exchange rates, hedging, cost savings and
competitiveness, as well as results of operations including
targeted synergies and those related to market share, prices, net
sales, income and margins; D) expectations, plans or benefits
related to changes in organizational and operational structure; E)
expectations regarding market developments, general economic
conditions and structural changes; F) our ability to integrate
acquired businesses into our operations and achieve the targeted
business plans and benefits, including targeted benefits,
synergies, cost savings and efficiencies; G) expectations, plans or
benefits related to any future collaboration or to business
collaboration agreements or patent license agreements or
arbitration awards, including income to be received under any
collaboration or partnership, agreement or award; H) timing of the
deliveries of our products and services, including our short term
and longer term expectations around the rollout of 5G and our
ability to capitalize on such rollout; and the overall readiness of
the 5G ecosystem ; I) expectations and targets regarding
collaboration and partnering arrangements, joint ventures or the
creation of joint ventures, and the related administrative, legal,
regulatory and other conditions, as well as our expected customer
reach; J) outcome of pending and threatened litigation,
arbitration, disputes, regulatory proceedings or investigations by
authorities; K) expectations regarding restructurings, investments,
capital structure optimization efforts, uses of proceeds from
transactions, acquisitions and divestments and our ability to
achieve the financial and operational targets set in connection
with any such restructurings, investments, capital structure
optimization efforts, divestments and acquisitions, including our
current cost savings program; L) expectations, plans or benefits
related to future capital expenditures, temporary incremental
expenditures or other R&D expenditures to develop or rollout
new products, including 5G; and M) statements preceded by or
including "believe", "expect", "expectations", "commit",
"anticipate", "foresee", "see", "target", "estimate", "designed",
"aim", "plan", "intend", "influence", "assumption", "focus",
"continue", "project", "should", "is to", "will" or similar
expressions. These forward-looking statements are subject to a
number of risks and uncertainties, many of which are beyond our
control, which could cause actual results to differ materially from
such statements. These statements are based on management's best
assumptions and beliefs in light of the information currently
available to it. These forward-looking statements are only
predictions based upon our current expectations and views of future
events and developments and are subject to risks and uncertainties
that are difficult to predict because they relate to events and
depend on circumstances that will occur in the future. Factors,
including risks and uncertainties that could cause these
differences include, but are not limited to: 1) our strategy is
subject to various risks and uncertainties and we may be unable to
successfully implement our strategic plans, sustain or improve the
operational and financial performance of our business groups,
correctly identify or successfully pursue business opportunities or
otherwise grow our business; 2) general economic and market
conditions and other developments in the economies where we
operate, including the timeline for the deployment of 5G and our
ability to successfully capitalize on that deployment; 3)
competition and our ability to effectively and profitably invest in
existing and new high-quality products, services, upgrades
and technologies and bring them to market in a timely manner; 4)
our dependence on the development of the industries in which we
operate, including the cyclicality and variability of the
information technology and telecommunications industries and our
own R&D capabilities and investments; 5) our dependence on a
limited number of customers and large multi-year agreements, as
well as external events impacting our customers including mergers
and acquisitions; 6) our ability to maintain our existing sources
of intellectual property-related revenue through our intellectual
property, including through licensing, establish new sources of
revenue and protect our intellectual property from infringement; 7)
our ability to manage and improve our financial and operating
performance, cost savings, competitiveness and synergies generally,
expectations and timing around our ability to recognize any net
sales and our ability to implement changes to our organizational
and operational structure efficiently; 8) our global business and
exposure to regulatory, political or other developments in various
countries or regions, including emerging markets and the associated
risks in relation to tax matters and exchange controls, among
others; 9) our ability to achieve the anticipated benefits,
synergies, cost savings and efficiencies of acquisitions, including
the acquisition of Alcatel-Lucent; 10) exchange rate fluctuations,
as well as hedging activities; 11) our ability to successfully
realize the expectations, plans or benefits related to any future
collaboration or business collaboration agreements and patent
license agreements or arbitration awards, including income to be
received under any collaboration, partnership, agreement or
arbitration award; 12) Nokia Technologies' ability to protect its
IPR and to maintain and establish new sources of patent, brand and
technology licensing income and IPR-related revenues, particularly
in the smartphone market, which may not materialize as planned, 13)
our dependence on IPR technologies, including those that we have
developed and those that are licensed to us, and the risk of
associated IPR-related legal claims, licensing costs and
restrictions on use; 14) our exposure to direct and indirect
regulation, including economic or trade policies, and the
reliability of our governance, internal controls and compliance
processes to prevent regulatory penalties in our business or in our
joint ventures; 15) our reliance on third-party solutions for data
storage and service distribution, which expose us to risks relating
to security, regulation and cybersecurity breaches; 16)
inefficiencies, breaches, malfunctions or disruptions of
information technology systems, or our customers' security
concerns; 17) our exposure to various legal frameworks regulating
corruption, fraud, trade policies, and other risk areas, and the
possibility of proceedings or investigations that result in fines,
penalties or sanctions; 18) adverse developments with respect to
customer financing or extended payment terms we provide to
customers; 19) the potential complex tax issues, tax disputes and
tax obligations we may face in various jurisdictions, including the
risk of obligations to pay additional taxes; 20) our actual or
anticipated performance, among other factors, which could reduce
our ability to utilize deferred tax assets; 21) our ability to
retain, motivate, develop and recruit appropriately skilled
employees; 22) disruptions to our manufacturing, service creation,
delivery, logistics and supply chain processes, and the risks
related to our geographically-concentrated production sites; 23)
the impact of litigation, arbitration, agreement-related disputes
or product liability allegations associated with our business; 24)
our ability to re-establish investment grade rating or maintain our
credit ratings; 25) our ability to achieve targeted benefits from,
or successfully implement planned transactions, as well as the
liabilities related thereto; 26) our involvement in joint ventures
and jointly-managed companies; 27) the carrying amount of our
goodwill may not be recoverable; 28) uncertainty related to the
amount of dividends and equity return we are able to distribute to
shareholders for each financial period; 29) pension costs, employee
fund-related costs, and healthcare costs; 30) our ability to
successfully complete and capitalize on our order backlogs and
continue converting our sales pipeline into net sales; and 31)
risks related to undersea infrastructure, as well as the risk
factors specified on pages 60 to 75 of our 2018 annual report on
Form 20-F published on March 21, 2019 under "Operating and
financial review and prospects-Risk factors" and in our other
filings or documents furnished with the U.S. Securities and
Exchange Commission. Other unknown or unpredictable factors or
underlying assumptions subsequently proven to be incorrect could
cause actual results to differ materially from those in the
forward-looking statements. We do 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.
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