Nokia announces a change in the composition of the Nokia Group Leadership Team

Nokia Corporation Stock Exchange Release August 31, 2016 at 08:30 (CET +1)

• Ramzi Haidamus, president of Nokia Technologies, to step down from the Nokia Group Leadership Team and leave company

• Search for successor underway, Nokia Technologies' Brad Rodrigues named acting president

Espoo, Finland - Nokia announced today that Ramzi Haidamus, President of Nokia Technologies and a member of the company's Group Leadership Team, will step down from the Nokia Group Leadership Team effective from September 1, 2016. In order to ensure a smooth transition, he will stay with the company through the end of September, and then leave to pursue new opportunities.

As a result of this change, effective from September 1, the Nokia Group Leadership Team will consist of the following members: Rajeev Suri, Timo Ihamuotila, Samih Elhage, Federico Guillén, Basil Alwan, Bhaskar Gorti, Hans-Jürgen Bill, Kathrin Buvac, Ashish Chowdhary, Barry French, Marc Rouanne and Maria Varsellona.

Brad Rodrigues, currently head of strategy and business development in Nokia Technologies, will assume the role of acting president of Nokia Technologies, and the company has started the search for a permanent successor with the requisite technology, product and commercial skills.

"Ramzi has created a strong foundation in Nokia Technologies," said Rajeev Suri, President and Chief Executive Officer of Nokia. "Under his leadership, we have grown our patent licensing business, reached an agreement with HMD global Oy to bring the Nokia brand back to mobile devices, and made excellent progress in digital media with the launch of the OZO virtual reality camera and in digital health with the acquisition of Withings. I wish Ramzi well, and am confident that with its strong foundation, Nokia Technologies will continue its progress without missing a beat."

"What was originally a collection of interesting assets is now a focused, growing and profitable business with a strong leadership team," said Haidamus. "Given that progress, now is the right time for me to explore new opportunities to pursue my passion for building and transforming businesses. I am proud of what we have accomplished at Nokia Technologies and look forward to seeing the business continue to grow and thrive."