Nokia - Changes board/management/auditors

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

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Email: press.services@nokia.com




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