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 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 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
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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. 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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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