NSN's Jesper Ovesen to step down as Executive Chairman

  NokiaCompany AnnouncementNSN's Jesper Ovesen to step down as Executive ChairmanNokia Corporation   Stock Exchange Release   December 30, 2013 at 14:00 (CET +1)      Espoo, Finland -- Nokia today announced that Jesper Ovesen is to step down as   Executive Chairman of Nokia Solutions and Networks, the group's telecoms   infrastructure business.      Mr Ovesen joined NSN in September 2011, when it was a joint venture between   Nokia and Siemens. He has supported NSN CEO Rajeev Suri and his management team   in building a successful and industry-leading telecoms infrastructure company   focused on mobile broadband and related services. Since August 2013, NSN has   been fully-owned by Nokia.      Nokia Chairman and interim CEO Risto Siilasmaa said: "We thank Jesper for   lending the full breadth of his restructuring and change management expertise   and for playing a critical part in building a stronger NSN. NSN has developed   into a profitable and leading mobile broadband specialist that is pushing the   boundaries of connecting people through LTE and future technologies. We wish   Jesper well for the future."      Mr. Ovesen is due to step down from his Executive Chairman role upon the   closing of the transaction whereby Nokia is selling substantially all of its   Devices & Services business to Microsoft, which is expected to take place   during the first quarter of 2014. Mr. Ovesen will continue to serve in an   advisory role for a period after the closing of the Microsoft transaction. As   before, NSN CEO Mr. Suri reports to the NSN Board.      FORWARD-LOOKING STATEMENTS   It should be noted that Nokia and its business are exposed to various risks and   uncertainties and certain statements herein that are not historical facts are   forward-looking statements, including, without limitation, those regarding: A)   the planned sale by Nokia of substantially all of Nokia's Devices & Services   business, including Smart Devices and Mobile Phones (referred to below as "Sale   of the D&S Business") pursuant to the Stock and Asset Purchase Agreement, dated   as of September 2, 2013, between Nokia and Microsoft International Holdings   B.V.(referred to below as the "Agreement"); B) the closing of the Sale of the   D  C) receiving timely, if at all, necessary regulatory approvals   for the Sale of the D  D) expectations, plans or benefits related to   or caused by the Sale of the D  E) expectations, plans or benefits   related to Nokia's strategies, including plans for Nokia with respect to its   continuing businesses that will not be divested in connection with the Sale of   the D  F) expectations, plans or benefits related to changes in   leadership and operational structure; G) expectations and targets regarding our   operational priorities, financial performance or position, results of   operations and use of proceeds from the Sale of the D  and H)   statements preceded by "believe," "expect," "anticipate," "foresee," "sees,"   "target," "estimate," "designed," "aim", "plans," "intends," "focus," "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, including risks   and uncertainties that could cause these differences include, but are not   limited to: 1) the inability to close the Sale of the D&S Business in a timely   manner, or at all, for instance due to the inability or delays in obtaining   necessary regulatory approvals for the Sale of the D&S Business, or the   occurrence of any event, change or other circumstance that could give rise to   the termination of the Agreement; 2) the potential adverse effect on the sales   of our mobile devices, business relationships, operating results and business   generally  resulting from the announcement of the Sale of the D&S Business or   from the terms that we have agreed for the Sale of the D  3) any   negative effect from the implementation of the Sale of the D&S Business, as we   may forego other competitive alternatives for strategies or partnerships that   would benefit our Devices & Services business and if the Sale of the D&S   Business is not closed, we may have limited options to continue the Devices &   Services  business or enter into another transaction on terms favorable to us,   or at all; 4) our ability to effectively and smoothly implement planned changes   to our leadership and operational structure or maintain an efficient interim   governance structure and preserve or hire key personnel; 5) any negative effect   from the implementation of the Sale of the D&S Business, including our internal   reorganization in connection therewith, which will require significant time,   attention and resources of our senior management and others within the company   potentially diverting their attention from other aspects of our business; 6)   disruption and dissatisfaction among employees caused by the plans and   implementation of the Sale of the D&S Business reducing focus and productivity   in areas of our business; 7) the amount of the costs, fees, expenses and   charges related to or triggered by the Sale of the D  8) any   impairments or charges to carrying values of assets or liabilities related to   or triggered by the Sale of the D  9) potential adverse effects on   our business, properties or operations caused by us implementing the Sale of   the D  10) the initiation or outcome of any legal proceedings,   regulatory proceedings or enforcement matters that may be instituted against us   relating to the Sale of the D&S Business, as well as the risk factors specified   on pages 12-47 of Nokia's annual report on Form 20-F for the year ended   December 31, 2012 under Item 3D. "Risk Factors." and risks outlined in our   interim report issued on October 29, 2013. 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.      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.      Media Enquiries:      Nokia   Communications   Tel. +358 7180 34900   Email: press.services@nokia.com      www.nokia.com
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