Nokia / Miscellaneous
24.07.2014 11:36
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Nokia Corporation
Stock exchange release
July 24, 2014 at 12:35 (CET +1)
Espoo, Finland - Nokia today announced the appointment of Ramzi Haidamus, a
technology-licensing expert with proven business leadership skills and a strong
innovation background, as President of Nokia's technologies business and member
of the Group Leadership team, with effect from September 3, 2014.
A trained engineer, Haidamus has spent most of his career with Dolby
Laboratories, which he helped to grow from a USD 72 million private business
into a nearly USD 1 billion thriving public company. During his 17 years with
Dolby, he held a variety of roles, most recently with chief operating
officer-level responsibility. He has led innovation efforts, including those
related to Dolby's technological roadmaps and standards development for DVD and
BluRay. He has experience in nurturing new technologies in an incubator-like
environment and in growing new businesses, including as President of Via
Licensing Corporation, a Dolby subsidiary.
'Ramzi has the perfect blend of technology savvy, business leadership and
innovation experience to head our cutting-edge technologies business,' said
Rajeev Suri, President and Chief Executive Officer of Nokia. 'With Ramzi at the
head of the world-class Nokia Technologies team and our continuing investment
in advanced research and development, we are well-positioned to drive the
innovation and licensing business needed to move us closer to our goal of
technology leadership in a world where everyone and everything is connected.'
'I am honored to take on this exciting role at Nokia,' said Haidamus, incoming
President of Nokia Technologies. 'I relish the opportunity to head Nokia's
ground-breaking technologies business with its track record of innovation and
team of hundreds of world-class scientists and engineers. These experts have
driven more than half of Nokia's recent patent filings and are leaders in
fields that are essential for enabling the connected world.'
Born in Lebanon, Haidamus moved at the age of 17 to the US, where he completed
his Bachelor's and Master's degrees in electrical engineering at the University
of the Pacific.
Henry Tirri, who has served as acting head of Nokia Technologies business since
its formation on May 1, 2014, will continue in this role until Haidamus joins
on September 3, 2014. From that date, Tirri will step down from the Group
Leadership Team and will become an advisor to Suri on technology issues.
'We are grateful to Henry for all his work for Nokia over the years and for his
willingness to lead the Nokia Technologies team during an important time of
change and transition,' said Suri. 'Henry has graciously agreed to support
Ramzi as he transitions into the company. Henry has unique insights into the
world of technology, and I am pleased that we will continue to benefit from his
expertise throughout this year and possibly beyond.'
A photo of Ramzi Haidamus can be downloaded at: http://nokia.ly/1uhFQTS
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)
expectations, plans or benefits related to Nokia's strategies; B) expectations,
plans or benefits related to future performance of Nokia's continuing
businesses Nokia Networks, HERE and Nokia Technologies; C) expectations, plans
or benefits related to changes in leadership and operational structure; D)
expectations regarding market developments, general economic conditions and
structural changes; E) expectations and targets regarding performance,
including those related to market share, prices, net sales and margins; F) the
timing of the deliveries of our products and services; G) expectations and
targets regarding our financial performance, cost savings and competitiveness,
as well as results of operations; H) expectations and targets regarding
collaboration and partnering arrangements; I) the outcome of pending and
threatened litigation, arbitration, disputes, regulatory proceedings or
investigations by authorities; J) expectations regarding restructurings,
investments, uses of proceeds from transactions, acquisitions and divestments
and our ability to achieve the financial and operational targets set in
connection with any such restructurings, investments, divestments and
acquisitions, including any expectations, plans or benefits related to or
caused by the transaction announced on September 3, 2013 where Nokia sold
substantially all of the Devices & Services business to Microsoft on April 25,
2014 ('Sale of the D&S Business'); K) statements preceded by or including
'believe,' 'expect,' 'anticipate,' 'foresee,' 'sees,' 'target,' 'estimate,'
'designed,' 'aim', 'plans,' 'intends,' 'focus', 'continue', 'project',
'should', '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) our ability to execute our strategies successfully
and in a timely manner, and our ability to successfully adjust our operations;
2) our ability to sustain or improve the operational and financial performance
of our continuing businesses and correctly identify business opportunities or
successfully pursue new business opportunities; 3) our ability to execute Nokia
Networks' strategy and effectively, profitably and timely adapt its business
and operations to the increasingly diverse needs of its customers and
technological developments; 4) our ability within our Nokia Networks business
to effectively and profitably invest in and timely introduce new competitive
high-quality products, services, upgrades and technologies; 5) our ability to
invent new relevant technologies, products and services, to develop and
maintain our intellectual property portfolio and to maintain the existing
sources of intellectual property related revenue and establish new such
sources; 6) 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; 7) our ability within
our HERE business to maintain current sources of revenue, historically derived
mainly from the automotive industry, create new sources of revenue, establish a
successful location-based platform and extend our location-based services
across devices and operating systems; 8) effects of impairments or charges to
carrying values of assets, including goodwill, or liabilities; 9) our
dependence on the development of the mobile and communications industry in
numerous diverse markets, as well as on general economic conditions globally
and regionally; 10) Nokia Networks business' dependence on a limited number of
customers and large, multi-year contracts; 11) our ability to retain, motivate,
develop and recruit appropriately skilled employees; 12) the potential complex
tax issues and obligations we may face, including the obligation to pay
additional taxes in various jurisdictions and our actual or anticipated
performance, among other factors, could result in allowances related to
deferred tax assets; 13) our ability to manage our manufacturing, service
creation and delivery, and logistics efficiently and without interruption,
especially if the limited number of suppliers we depend on fail to deliver
sufficient quantities of fully functional products and components or deliver
timely services; 14) potential exposure to contingent liabilities due to the
Sale of the D&S Business and possibility that the agreements we have entered
into with Microsoft may have terms that prove to be unfavorable to us; 15) any
inefficiency, malfunction or disruption of a system or network that our
operations rely on or any impact of a possible cybersecurity breach; 16) our
ability to reach targeted results or improvements by managing and improving our
financial performance, cost savings and competitiveness; 17) management of
Nokia Networks' customer financing exposure; 18) the performance of the parties
we partner and collaborate with, and our ability to achieve successful
collaboration or partnering arrangements; 19) our ability to protect the
technologies, which we develop, license, use or intend to use from claims that
we have infringed third parties' intellectual property rights, as well as,
impact of possible licensing costs, restriction on our usage of certain
technologies, and litigation related to intellectual property rights; 20) the
impact of regulatory, political or other developments on our operations and
sales in those various countries or regions where we do business; 21) exchange
rate fluctuations, particularly 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; 22) our ability to successfully implement planned
transactions, such as acquisitions, divestments, mergers or joint ventures,
manage unexpected liabilities related thereto and achieve the targeted
benefits; 23) the impact of unfavorable outcome of litigation, arbitration,
contract related disputes or allegations of health hazards associated with our
business, as well as the risk factors specified on pages 12-35 of Nokia's
annual report on Form 20-F for the year ended December 31, 2013 under Item 3D.
(MORE TO FOLLOW) Dow Jones Newswires
July 24, 2014 05:36 ET (09:36 GMT)
