Nokia CorporationStock Exchange ReleaseDecember 11, 2017 at
09:30 (CET +1)
Nokia appoints Joerg Erlemeier as Chief Operating Officer and
member of the Nokia Group Leadership Team
Espoo, Finland - Nokia today announced the appointment of Joerg
Erlemeier as Chief Operating Officer (COO) and member of the Group
Leadership Team (GLT) with immediate effect. Erlemeier will report
to Nokia President and Chief Executive Officer Rajeev Suri. Monika
Maurer, who previously held the COO position, will support
Erlemeier during a transition period and then leave Nokia to pursue
new opportunities outside the company.
"I want to thank Monika for her contributions to Nokia, and
Alcatel-Lucent before that. I warmly welcome Joerg to the GLT, and
look forward to working together to further strengthen our
disciplined operating model," said Rajeev Suri.
Erlemeier was most recently Senior Vice President, Nokia
Transformation, and holds a Bachelor's degree in Engineering
(Electronics and Telecommunications) from Fachhochschule Aachen in
Germany. He has over 20 years of experience in various leadership
positions in Nokia, including heading the Middle East and Africa
region; leading Services in Asia-Pacific and Japan and North
America; and serving as COO of the Mobile Networks business
group.
As a result of this change, Nokia's Group Leadership Team will,
effective as of December 11, 2017, consist of the following
members: Rajeev Suri, Basil Alwan, Hans-Juergen Bill, Kathrin
Buvac, Ashish Chowdhary, Joerg Erlemeier, Barry French, Bhaskar
Gorti, Federico Guillén, Gregory Lee, Igor Leprince, Kristian
Pullola, Marc Rouanne, Maria Varsellona and Marcus Weldon.
A photo of Joerg Erlemeier can be downloaded at:
https://www.nokia.com/en_int/news/media-library/nokia-group-leadership-team
Additional background on all members of the GLT can be found at
http://www.nokia.com/en_int/investors/corporate-governance/group-leadership-team
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From the enabling infrastructure for 5G and the Internet of
Things, to emerging applications in digital health, we are shaping
the future of technology to transform the human experience.
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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, including, without limitation, those
regarding: A) 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; B) expectations, plans or benefits related to our
strategies and growth management; C) expectations, plans or
benefits related to future performance of our businesses; 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) 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; 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; 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; and L) statements preceded
by or including "believe," "expect," "anticipate," "foresee,"
"sees," "target," "estimate," "designed," "aim," "plans,"
"intends," "focus," "continue," "project," "should," "is to,"
"will" or similar expressions. 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, including risks and
uncertainties that could cause these differences include, but are
not limited to: 1) our ability to execute our strategy, sustain or
improve the operational and financial performance of our business
and correctly identify and successfully pursue business
opportunities or growth; 2) our ability to achieve the anticipated
benefits, synergies, cost savings and efficiencies of acquisitions,
including the acquisition of Alcatel-Lucent, and our ability to
implement changes to our organizational and operational structure
efficiently; 3) general economic and market conditions and other
developments in the economies where we operate; 4) competition and
our ability to effectively and profitably compete and invest in new
competitive high-quality products, services, upgrades and
technologies and bring them to market in a timely manner; 5) our
dependence on the development of the industries in which we
operate, including the cyclicality and variability of the
information technology and telecommunications industries; 6) 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; 7) our ability to manage and
improve our financial and operating performance, cost savings,
competitiveness and synergies generally or after the acquisition of
Alcatel-Lucent; 8) our dependence on a limited number of customers
and large multi-year agreements; 9) exchange rate fluctuations, as
well as hedging activities; 10) Nokia Technologies' ability to
protect its IPR and to maintain and establish new sources of patent
licensing income and IPR-related revenues, particularly in the
smartphone market; 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) 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; 13) 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; 14) our ability to identify and remediate material
weaknesses in our internal control over financial reporting; 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; 17) Nokia Technologies' ability to generate net sales and
profitability through licensing of the Nokia brand, technology
licensing and the development and sales of products and services
for instance in digital health, as well as other business ventures,
which may not materialize as planned; 18) our exposure to various
legislative frameworks and jurisdictions that regulate fraud and
enforce economic trade sanctions and policies, and the possibility
of proceedings or investigations that result in fines, penalties or
sanctions; 19) adverse developments with respect to customer
financing or extended payment terms we provide to customers; 20)
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; 21) our actual or anticipated
performance, among other factors, which could reduce our ability to
utilize deferred tax assets; 22) our ability to retain, motivate,
develop and recruit appropriately skilled employees; 23)
disruptions to our manufacturing, service creation, delivery,
logistics and supply chain processes, and the risks related to our
geographically-concentrated production sites; 24) the impact of
litigation, arbitration, agreement-related disputes or product
liability allegations associated with our business; 25) our ability
to optimize our capital structure as planned and re-establish our
investment grade credit rating or otherwise improve our credit
ratings; 26) our ability to achieve targeted benefits from or
successfully achieve the required administrative, legal, regulatory
and other conditions and implement planned transactions, as well as
the liabilities related thereto; 27) our involvement in joint
ventures and jointly-managed companies; 28) the carrying amount of
our goodwill may not be recoverable; 29) uncertainty related to the
amount of dividends and equity return we are able to distribute to
shareholders for each financial period; 30) pension costs, employee
fund-related costs, and healthcare costs; and 31) risks related to
undersea infrastructure, as well as the risk factors specified on
pages 67 to 85 of our 2016 annual report on Form 20-F 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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