Nokia has announced that its Board Chair, Risto Siilasmaa will not stand for re-election at the Nokia Annual General Meeting in 2020 and instead propose Board Vice Chair Sari Baldauf as the new Chair and Board member Kari Stadigh as the Vice Chair, subject to their re-election to the Board.
Siilasmaa joined the Nokia Board in 2008 and was appointed as Board Chair in 2012. He also served as interim CEO of Nokia from 2013 to 2014.
“During my time as Board Chair, we have repositioned Nokia as a world-leading network technology business, with a strong basis for the future,” said Risto Siilasmaa.
“This has included some fundamental strategic steps, including the sale of the Nokia mobile devices business to Microsoft, taking full ownership of the NSN telecom infrastructure business, and the acquisition of Alcatel-Lucent. This transformational journey has not been easy, and I would like to thank everyone at Nokia for their determination and dedication.”
Siilasmaa said, “While we know that Nokia is facing some short-term challenges as the technology matures, I am confident that we have the right actions underway to address those issues. Many parts of Nokia are performing well, and we are delivering on our strategy to diversify into enterprise markets and build our software business.”
Baldauf joined the Nokia Board as a non-executive director in 2018. In addition, she is a member of the Supervisory Board & Nomination Committee of Daimler and the Board of Directors of Aalto University. Baldauf was the Executive Vice President and General Manager of Nokia’s Networks business group from 1998 to 2005 and, prior to that, held various executive positions at Nokia in Finland and the United States. Until 2018, Baldauf was the Board Chair of Fortum Corporation and a member of the Supervisory Board of Deutsche Telekom.