Nokia CorporationStock Exchange ReleaseMarch 17, 2017 at 8.30
EET (CET +1)
Nokia announces changes in its organization and Group
Leadership Team to accelerate the execution of company
strategy
Espoo, Finland - Nokia today announced changes in its
organizational structure and Group Leadership Team (GLT), effective
from April 1, 2017.
"These changes are designed to accelerate the execution of our
strategy," said Nokia President and CEO Rajeev Suri. "They will
strengthen our ability to deliver strong financial performance,
drive growth in services, meet changing customer demands in mobile
networks, achieve our cost saving and ongoing transformation goals,
and enable strategic innovation across our networks business."
The organizational changes announced today include the
separation of Nokia's current Mobile Networks business group into
two distinct, but closely linked, organizations: one focused on
products and solutions, called Mobile Networks, and the other on
services, called Global Services. In addition, the company's Chief
Innovation and Operating Officer (CIOO) organization will be split,
with its current operating activities moved to a newly-appointed
Chief Operating Officer (COO) organization, innovation activities
to Nokia's Chief Technology Officer and incubation to Nokia's Chief
Strategy Officer.
Leadership changes announced today include the following:
- Marc Rouanne, currently Chief Innovation and Operating Officer,
will become President of the Mobile Networks business group,
responsible for mobile products and solutions, including 4G, 5G,
cloud core, small cells and other advanced mobile solutions.
Rouanne will remain on the GLT, reporting to Suri.
- Igor Leprince, currently Executive Vice President of Global
Services, will take the role of President of Global Services, a new
business group comprised of the Services organization that
currently resides within the existing Mobile Networks business
group, including company-wide managed services. Leprince will join
the GLT as a new member, reporting to Suri.
- Monika Maurer, currently Chief Operating Officer of Fixed
Networks, will assume the position of Group COO, responsible for
Nokia's operating model, Global Operations (manufacturing and
supply chain), procurement, implementation of cost saving and
ongoing transformation activities, information technology, real
estate, and quality. Maurer will join the GLT as a new member,
reporting to Suri.
- Marcus Weldon, currently President of Nokia Bell Labs and Chief
Technology Officer, will retain those responsibilities and join the
GLT as a new member, reporting to Suri.
- Kathrin Buvac, Chief Strategy Officer, will assume additional
responsibilities for incubation of select new business
opportunities, and Barry French, Chief Marketing Officer, will
assume additional responsibilities for Health, Safety, Security and
Environment. They will both remain on the GLT, reporting to
Suri.
- With the integration of Alcatel-Lucent largely complete, Samih
Elhage has decided to leave Nokia to pursue new opportunities.
Elhage will continue in his current role and as a member of the GLT
until April 1, 2017, and will remain as an advisor to the company
through May 31, 2017.
"From helping lead the transformation at Nokia Siemens Networks
and creating a disciplined operating model that remains a
competitive advantage, to being one of the driving forces behind
the acquisition of Alcatel-Lucent and its fast and successful
integration, Samih's contributions to Nokia have been remarkable,"
said Suri. "He has been a close friend and advisor through times
both good and bad, and I fully support his desire for a
change."
"I am proud of what I was able to accomplish during my time at
Nokia and leave confident that the company is extremely
well-positioned for the future," said Elhage.
As a result of these changes, all of which are effective from
April 1, 2017, the Nokia GLT will consist of the following members:
Rajeev Suri, Kristian Pullola, Monika Maurer, Basil Alwan, Bhaskar
Gorti, Federico Guillén, Igor Leprince, Marc Rouanne, Ashish
Chowdhary, Hans-Jürgen Bill, Kathrin Buvac, Barry French, Maria
Varsellona and Marcus Weldon.
Additional background on the new members of the GLT can be found
at
www.nokia.com/en_int/investors/corporate-governance/group-leadership-team
The company will continue to report financial information for
Ultra Broadband Networks, IP Networks and Applications and Nokia
Technologies. Ultra Broadband Networks will be composed of the
Mobile Networks, Global Services and Fixed Networks business
groups. IP Networks and Applications will continue to be composed
of the IP/Optical Networks and Applications & Analytics
business groups.
About Nokia Nokia is a global leader innovating the
technologies at the heart of our connected world. Powered by the
research and innovation of Nokia Bell Labs, we serve communications
service providers, governments, large enterprises and consumers,
with the industry's most complete, end-to-end portfolio of
products, services and licensing. From the enabling infrastructure
for 5G and the Internet of Things, to emerging applications in
virtual reality and digital health, we are shaping the future of
technology to transform the human
experience. www.nokia.com
Media Enquiries:Nokia CommunicationsTel. +358 (0) 10 448
4900 Email: press.services@nokia.com
Forward-Looking Statements It 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
Alcatel-Lucent into our operations and achieve the targeted
business plans and benefits, including targeted synergies in
relation to the acquisition of Alcatel-Lucent; 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 as well as
changes in our Group Leadership Team; 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, reportable segments, 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; and G) 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 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 the
Alcatel-Lucent acquisition, and our ability to implement our
organizational and operational structure as well as changes in our
Group Leadership Team efficiently; 3) general economic and market
conditions and other developments in the economies where we
operate; 4) our ability to manage and improve our financial and
operating performance, cost savings, competitiveness and synergies
after the acquisition of Alcatel-Lucent; and 5) our ability to
retain, motivate, develop and recruit appropriately skilled
employees, as well as the risk factors specified on pages 69 to 87
of our annual report on Form 20-F filed on April 1, 2016 under
"Operating and financial review and prospects-Risk factors", and in
Nokia's other filings 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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