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2016-10-27

NOKIA: Nokia announces a change in the composition of the Group Leadership Team

Nokia Corporation

Stock Exchange Release
October 27, 2016 at 08:02 (CET +1)

Nokia announces a change in the composition of the Group Leadership Team

Espoo, Finland - Nokia announced today that Timo Ihamuotila, Chief Financial
Officer of Nokia, resigns from the company to join ABB in Switzerland as
Chief Financial Officer and a member of the Executive committee. Ihamuotila
will continue in his current role as Nokia CFO and as a member of the
company's Group Leadership Team until December 31, 2016, and will remain as
an advisor to the company until February 28, 2017.

Kristian Pullola, who currently is Nokia's Senior Vice President, Corporate
Controller, is appointed as Chief Financial Officer and member of the Group
Leadership Team as of January 1, 2017.

As a result of this change, effective from January 1, 2017, the Nokia Group
Leadership Team will consist of the following members: Rajeev Suri, Kristian
Pullola, Samih Elhage, Federico Guillén, Basil Alwan, Bhaskar Gorti,
Hans-Jürgen Bill, Kathrin Buvac, Ashish Chowdhary, Barry French, Marc Rouanne
and Maria Varsellona.

"Timo has helped make Nokia a stronger and better company, and he has my
admiration," said Rajeev Suri, President and Chief Executive Officer of
Nokia. "He was instrumental in the purchase of the Siemens share of Nokia
Siemens Networks; the sale of Nokia's Devices&Services business to Microsoft;
the divestment of HERE, our former mapping business; the recent acquisition
of Alcatel-Lucent, and more. He has also played an important role in driving
the strong performance of Nokia in recent years. Timo will be missed, but
given that he rejoined Nokia in 1999, and now has been in the CFO role for
seven years, I understand and support his desire for a new challenge at this
point in his career."

Suri further adds: "I am delighted that we are able to appoint Kristian
Pullola as Timo's successor, effective January 1, 2017. Kristian has been a
strong contributor to the Nokia team since he joined us in 1999. He has
expertise in all aspects of the CFO function, deep knowledge across our
business in critical areas such as patent licensing and has been heavily
involved in all key aspects of the Nokia transformation. Kristian's track
record, plus his close collaboration with Timo over many years, makes me
confident that his transition into the role will be smooth and effective. We
are very excited to have Kristian join the Group Leadership Team as Timo's
successor."

Timo Ihamuotila said: "Nokia has been an important part of my life. After over
15 years with the company, it is time for me to take on a new challenge in a
new company in a new industry. I am pleased to see a great long-time
colleague taking over the role, and I leave knowing that the company is
well-positioned for the future and focused on the right areas, with strong
execution capabilities and a great team. Nokia will always have a place in my
heart and I wish everyone in the company the very best for the coming years."

Kristian Pullola said: "I am honored to have been selected as the new Chief
Financial Officer of Nokia, and look forward to working with Rajeev and the
rest of the Nokia team to create shareholder value in the years to come."

About Nokia

Nokia is a global leader in the technologies that connect people and things.
Powered by the innovation of Nokia Bell Labs and Nokia Technologies, the
company is at the forefront of creating and licensing the technologies that
are increasingly at the heart of our connected lives.

With state-of-the-art software, hardware and services for any type of network,
Nokia is uniquely positioned to help communication service providers,
governments, and large enterprises deliver on the promise of 5G, the Cloud
and the Internet of Things.www.nokia.com
Media Enquiries:

Nokia
Communications
Tel. +358 (0) 10 448 4900
Email:press.services@nokia.com

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: NOKIA via Globenewswire

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