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Nokia's 64 year old director will be chairman of the board

via:CnBeta     time:2019/12/4 20:00:27     readed:227

On December 4, Nokia, the telecoms equipment maker, announced plans to appoint Sari Baldauf, the former head of its networks business group, as chairman to replace Risto silasmaa.At Nokia, the chairman is the top management position. Sari Baldauf, 64, will be the most prominent female manager in the global telecom industry when she becomes chairman of Nokia, Reuters said.

Sari Baldauf was in charge of Nokia's network business from 1998 to 2005, and now it has become Nokia's main business.

Sari Baldauf has been on the board of Nokia since last year as a non-executive director. She is also a member of the board of directors of Daimler, Deutsche Telekom, Akzo Nobel and others.

Sari Baldauf said in a statement that he saw a clear opportunity to work with CEO Rajeev Suri to achieve long-term shareholder value.

It is reported that Sari Baldauf's appointment needs to be approved by the shareholders' meeting held on April 8 next year. At that time, Risto silasmaa, who has been chairman of Nokia for eight years, will step down.

"We are entering the 5g era at another turning point." "Although we know that Nokia faces some short-term challenges as technology matures, I am confident that we are on the right path to solve the problem," said silasmaa

In October, Nokia lowered its performance forecasts for 2019 and 2020 as it needed to invest more in 5g. To save money, Nokia also suspended dividend payments.

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