Nokia Corporation
Stock Exchange Release
January 31, 2019 at 08:00 (CET +1)
Sandra Motley, President of Fixed Networks and Tommi Uitto, President of Mobile Networks appointed to Nokia Group Leadership
Team
- Tommi Uitto was appointed as President of Mobile Networks on November 22, 2018, now joins Group Leadership Team
- Sandra Motley was appointed as President of Fixed Networks effective January 1, 2019, now joins Group Leadership Team
Espoo, Finland - Nokia today announced that the previously appointed Presidents of Fixed Networks and Mobile Networks will become
members of the Group Leadership Team effective immediately. Motley and Uitto will report to Nokia President and Chief Executive
Officer, Rajeev Suri.
"After their strong starts in the roles as Presidents of their business groups I welcome them to the Group Leadership Team where
I am confident they will make a strong contribution," said Rajeev Suri.
Motley started her career at AT&T Bell Laboratories, held a range of R&D and sales leadership positions at
Alcatel-Lucent in both fixed and wireless businesses. Her most recent role before becoming President of Fixed Networks on January
1, 2019, was as COO for the Fixed Networks business group. Motley holds MS and BS degrees in Mechanical Engineering from S.U.N.Y.
at Buffalo and an MBA in Finance from Fairleigh Dickinson University.
Uitto is a 23-year Nokia veteran, an expert in radio access technologies, and well-known to customers around the world. His most
recent role before becoming President of Mobile Networks on November 22, 2018, was to lead Mobile Networks Product Sales since the
acquisition of Alcatel-Lucent. Uitto holds an MSc in Industrial Management from the Helsinki University of Technology (TKK) and an
MSc in Operations Management from Michigan Technological University.
Given these appointments, the previously announced plan to create a single Access Networks division that included both Fixed
Networks and Mobile Networks business groups will not proceed. Since the announcement, other means of collaboration between Mobile
Networks, Fixed Networks and Nokia Bell Labs focused on developing common technological and architectural leadership have been set
up.
As a result of these changes, Nokia's Group Leadership Team will now consist of the following members: Rajeev Suri, Basil Alwan,
Hans-Juergen Bill, Kathrin Buvac, Ricky Corker, Joerg Erlemeier, Barry French, Sanjay Goel, Bhaskar Gorti, Federico Guillén, Sandra
Motley, Kristian Pullola, Sri Reddy, Tommi Uitto, Maria Varsellona 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
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. 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 2019-2020
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 new competitive 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; 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 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; 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 71 to 89 of our 2017 annual report on Form 20-F published on March 22, 2018 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.
About Nokia
We 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 5.7 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 Inquiries
Nokia
Communications
Tel. +358 (0) 10 448 4900
Email: press.services@nokia.com
Jon Peet, Vice President, Corporate Communications