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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Nokia Oyj    NOKIA   FI0009000681

NOKIA OYJ

(NOKIA)
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Real-time Quote. Real-time Tradegate - 01/27 05:53:51 am
3.585 EUR   -2.46%
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Nokia: Chairman Risto Siilasmaa to Step Down, Sari Baldauf to Be Successor

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12/03/2019 | 09:02am EST

By Dominic Chopping

Nokia said Tuesday that Risto Siilasmaa is to step down from the Nokia board of directors after serving 12 years as a director and the last eight years as chairman.

The company said it will propose Vice Chair Sari Baldauf to succeed Mr. Siilasmaa, who will step down at Nokia's annual general meeting on April 8.

"While we know that Nokia is facing some short-term challenges as the [5G] technology matures, I am confident that we have the right actions under way to address those issues," Mr. Siilasmaa said.

"Many parts of Nokia are performing well, and we are delivering on our strategy to diversify into enterprise markets and build our software business."

Nokia said its corporate governance and nomination committee conducted the succession planning process for almost a year and, in alignment with the full board, proposes Vice Chair Baldauf as chairwoman, with board member Kari Stadigh proposed as the new vice chair.

Ms. Baldauf joined the Nokia board as a nonexecutive director in 2018 having previously served as executive vice president and general manager of Nokia's networks business from 1998 to 2005 and prior to that, held various executive positions at Nokia in Finland and the United States.

She is also a member of the supervisory board and nomination committee of Daimler AG and until 2018 was the chair of Fortum and a member of the supervisory board of Deutsche Telekom AG.

"I see a clear opportunity to help create long-term shareholder value and look forward to continuing to work closely with the board and with Nokia CEO Rajeev Suri," Ms. Baldauf said.

"Rajeev and his team are working hard to address both the short-term issues and strengthen Nokia's longer-term value drivers."

Write to Dominic Chopping at dominic.chopping@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
DAIMLER AG -2.33% 42.955 Delayed Quote.-11.00%
DEUTSCHE TELEKOM AG -1.05% 14.646 Delayed Quote.1.58%
FORTUM OYJ 0.88% 22.88 Delayed Quote.3.09%
NOKIA OYJ -2.00% 3.602 Delayed Quote.11.51%
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Financials (EUR)
Sales 2019 23 335 M
EBIT 2019 1 949 M
Net income 2019 -211 M
Finance 2019 1 552 M
Yield 2019 3,20%
P/E ratio 2019 -130x
P/E ratio 2020 39,6x
EV / Sales2019 0,82x
EV / Sales2020 0,77x
Capitalization 20 646 M
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Technical analysis trends NOKIA OYJ
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 4,19  €
Last Close Price 3,68  €
Spread / Highest target 57,8%
Spread / Average Target 14,0%
Spread / Lowest Target -29,3%
EPS Revisions
Managers
NameTitle
Rajeev Suri President & Chief Executive Officer
Risto Kalevi Siilasmaa Chairman
Kristian Pullola Chief Financial Officer
Marcus Weldon Chief Technology Officer
Kari Henrik Stadigh Independent Non-Executive Director
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