Nokia - Changes board/management/auditors

Colin Giles to leave Nokia, Nokia streamlines sales management

Nokia Corporation
Stock exchange release
April 19, 2012 at 13.05 (CET+1)

Espoo, Finland - Today Nokia announced that Colin Giles, executive vice
president of sales and a member of the Nokia Leadership Team, will step down
from his position and the Nokia Leadership Team effective June 30, 2012. After
many years of travel, Giles has decided to leave the company on to be closer to
his family. 

With Giles departure, Nokia will restructure the sales organization by reducing
a layer of sales management to ensure greater customer focus and providing
senior leaders greater visibility into market dynamics. Effective immediately,
Nokia's four regional senior vice presidents and the lead of sales operations
will report directly to Niklas Savander, executive vice president of markets. 

The regional senior vice presidents include Chris Weber for the Americas; Shiv
Shivakumar for India, Middle East and Africa; Olivier Puech for Asia Pacific
and Victor Saeijs for Europe and Eurasia. 

“Our structure is focused on ensuring that the sales organization is aligned
with local customer requirements, market-by-market competitive issues and
country-specific sales and marketing tactics,” said Savander. “As a result of
reducing layers, we can increase the speed at which we execute sales activities
and improve the collaboration between our business groups and our team on the
ground.” 

Giles joined Nokia in 1992 and has served in a number of marketing and sales
roles across the company. Giles was instrumental in building Nokia's presence
in Asia and China and expanded Nokia's sales and marketing efforts in many
regions around the world. Most recently he led the global sales organization
during Nokia's transition. Colin will stay with Nokia until June 30, 2012, to
help establish the new structure. "Colin's leadership has been very valuable as we shifted Nokia's strategy and
aligned the sales organization around our new product families, Lumia and
Asha,” said Stephen Elop, president and CEO. “We appreciate the commitment that
Colin has demonstrated to Nokia over the years, and we wish him much success as
he takes the next step in his career.” 

About Nokia
Nokia is a global leader in mobile communications whose products have become an
integral part of the lives of people around the world. Every day, more than 1.3
billion people use their Nokia to capture and share experiences, access
information, find their way or simply to speak 

to one another. Nokia's technological and design innovations have made its
brand one of the most recognized in the world. For more information, visit
http://www.nokia.com/about-nokia 

Forward-looking statements
It should be noted that certain statements herein that are not historical facts
are forward-looking statements, including, without limitation, those regarding:
A) the expected plans and benefits of our partnership with Microsoft to bring
together complementary assets and expertise to form a global mobile ecosystem
for smartphones; B) the timing and expected benefits of our new strategies,
including expected operational and financial benefits and targets as well as
changes in leadership and operational structure; C) the timing of the
deliveries of our products and services; D) our ability to innovate, develop,
execute and commercialize new technologies, products and services; E)
expectations regarding market developments and structural changes; F)
expectations and targets regarding our industry volumes, market share, prices,
net sales and margins of our products and services; G expectations and targets
regarding our operational priorities and results of operations; H) expectations
and targets regarding collaboration and partnering arrangements; I) the outcome
of pending and threatened litigation; J) expectations regarding the successful
completion of acquisitions or restructurings on a timely basis and our ability
to achieve the financial and operational targets set in connection with any
such acquisition or restructuring; and K) statements preceded by "believe,""expect,""anticipate,""foresee,""target,""estimate,""designed,""aim","plans,""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 that
could cause these differences include, but are not limited to: 1) our success
in the smartphone market, including our ability to introduce and bring to
market quantities of attractive, competitively priced Nokia products with
Windows Phone that are positively differentiated from our competitors'
products, both outside and within the Windows Phone ecosystem; 2) our ability
to make Nokia products with Windows Phone a competitive choice for consumers,
and together with Microsoft, our success in encouraging and supporting a
competitive and profitable global ecosystem for Windows Phone smartphones that
achieves sufficient scale, value and attractiveness to all market participants;
3) the difficulties we experience in having a competitive offering of Symbian
devices and maintaining the economic viability of the Symbian smartphone
platform during the transition to Windows Phone as our primary smartphone
platform; 4) our ability to realize a return on our investment in next
generation devices, platforms and user experiences; 5) our ability to produce
attractive and competitive feature phones, including devices with more
smartphone-like features, in a timely and cost efficient manner with
differentiated hardware, software, localized services and applications; 6) the
intensity of competition in the various markets where we do business and our
ability to maintain or improve our market position or respond successfully to
changes in the competitive environment; 7) our ability to retain, motivate,
develop and recruit appropriately skilled employees; 8) our ability to
effectively and smoothly implement the new operational structure for our
businesses, achieve targeted efficiencies and reductions in operating expenses;
9) the success of our Location & Commerce strategy, including our ability to
maintain current sources of revenue, provide support for our Devices & Services
business and create new sources of revenue from our location-based services and
commerce assets; 10) our success in collaboration and partnering arrangements
with third parties, including Microsoft; 11) our ability to increase our speed
of innovation, product development and execution to bring new innovative and
competitive mobile products and location-based or other services to the market
in a timely manner; 12) our dependence on the development of the mobile and
communications industry, including location-based and other services
industries, in numerous diverse markets, as well as on general economic
conditions globally and regionally; 13) our ability to protect numerous
patented standardized or proprietary technologies from third-party infringement
or actions to invalidate the intellectual property rights of these
technologies; 14) our ability to maintain and leverage our traditional
strengths in the mobile product market if we are unable to retain the loyalty
of our mobile operator and distributor customers and consumers as a result of
the implementation of our strategies or other factors; 15) the success,
financial condition and performance of our suppliers, collaboration partners
and customers; 16) our ability to manage efficiently our manufacturing and
logistics, as well as to ensure the quality, safety, security and timely
delivery of our products and services; 17) our ability to source sufficient
amounts of fully functional quality components, sub-assemblies, software and
services on a timely basis without interruption and on favorable terms; 18) our
ability to manage our inventory and timely adapt our supply to meet changing
demands for our products; 19) any actual or even alleged defects or other
quality, safety and security issues in our product; 20) the impact of a
cybersecurity breach or other factors leading to any actual or alleged loss,
improper disclosure or leakage of any personal or consumer data collected by us
or our partners or subcontractors, made available to us or stored in or through
our products; 21) our ability to successfully manage the pricing of our
products and costs related to our products and operations; 22) exchange rate
fluctuations, including, in particular, fluctuations between the euro, which is
our reporting currency, and the US dollar, the Japanese yen and the Chinese
yuan, as well as certain other currencies; 23) our ability to protect the
technologies, which we or others develop or that we license, from claims that
we have infringed third parties' intellectual property rights, as well as our
unrestricted use on commercially acceptable terms of certain technologies in
our products and services; 24) the impact of economic, political, regulatory or
other developments on our sales, manufacturing facilities and assets located in
emerging market countries; 25) the impact of changes in government policies,
trade policies, laws or regulations where our assets are located and where we
do business; 26) the potential complex tax issues and obligations we may incur
to pay additional taxes in the various jurisdictions in which we do business;
27) any disruption to information technology systems and networks that our
operations rely on; 28) unfavorable outcome of litigations; 29) allegations of
possible health risks from electromagnetic fields generated by base stations
and mobile products and lawsuits related to them, regardless of merit; 30)
Nokia Siemens Networks ability to implement its new strategy and restructuring
plan effectively and in a timely manner to improve its overall competitiveness
and profitability; 31) Nokia Siemens Networks' success in the
telecommunications infrastructure services market and Nokia Siemens Networks'
ability to effectively and profitably adapt its business and operations in a
timely manner to the increasingly diverse service needs of its customers; 32)
Nokia Siemens Networks' ability to maintain or improve its market position or
respond successfully to changes in the competitive environment; 33) Nokia
Siemens Networks' liquidity and its ability to meet its working capital
requirements; 34) Nokia Siemens Networks' ability to timely introduce new
competitive products, services, upgrades and technologies; 35) Nokia Siemens
Networks' ability to execute successfully its strategy for the acquired
Motorola Solutions wireless network infrastructure assets; 36) developments
under large, multi-year contracts or in relation to major customers in the
networks infrastructure and related services business; 37) the management of
our customer financing exposure, particularly in the networks infrastructure
and related services business; 38) whether ongoing or any additional
governmental investigations into alleged violations of law by some former
employees of Siemens may involve and affect the carrier-related assets and
employees transferred by Siemens to Nokia Siemens Networks; and 39) any
impairment of Nokia Siemens Networks customer relationships resulting from
ongoing or any additional governmental investigations involving the Siemens
carrier-related operations transferred to Nokia Siemens Networks, as well as
the risk factors specified on pages 13-47 of Nokia's annual report Form 20-F
for the year ended December 31, 2011 under Item 3D. "Risk Factors." Other
unknown or unpredictable factors or underlying assumptions subsequently proving
to be incorrect could cause actual results to differ materially from those in
the forward-looking statements. Nokia does 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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