Sari Baldauf to step down as Board Chair of Nokia in April 2026

Nokia has announced Board Chair succession and has said that Sari Baldauf will step down as Board Chair of Nokia after the Annual General Meeting in April 2026. The Board has proposed current Vice Chair, Timo Ihamuotila, as the next Board Chair and Thomas Saueressig as the Vice Chair. 

Nokia Corporation’s Annual General Meeting will be held on Thursday 9 April 2026 at 14:00 (EEST) at Finlandia Hall, Helsinki, Finland. The Board submits the following proposals to the Annual General Meeting.

Sari Baldauf has informed the Board’s Corporate Governance and Nomination Committee that she will no longer be available to serve on the Nokia Board of Directors after the Annual General Meeting. On the recommendation of the Corporate Governance and Nomination Committee, the Board proposes to the Annual General Meeting that the number of Board members be ten (10).

On the recommendation of the Corporate Governance and Nomination Committee, the Board further proposes to the Annual General Meeting that the following current Board members be re-elected as members of the Board of Directors for a term until the close of the next Annual General Meeting: Timo Ahopelto, Elizabeth Crain, Thomas Dannenfeldt, Pernille Erenbjerg, Lisa Hook, Timo Ihamuotila, Mike McNamara, Thomas Saueressig and Kai Öistämö. In addition, it is proposed that Meredith Whittaker, United States citizen, President of Signal Technology Foundation, be elected as a new member of the Board of Directors for a term until the close of the next Annual General Meeting. 

Should any number of the candidates proposed by the Board not be available for election, the proposed number of Board members shall be decreased accordingly, and the remaining available candidates are proposed to be elected in accordance with the proposal by the Board.

The Corporate Governance and Nomination Committee will propose in the assembly meeting of the new Board of Directors after the Annual General Meeting that Timo Ihamuotila be elected as the Chair of the Board and Thomas Saueressig be elected as the Vice Chair, subject to their election to the Board.

Authorization of the Board of Directors to decide on the distribution of dividends and assets from the reserve for invested unrestricted equity.

The Board of Directors proposes to the Annual General Meeting to be authorized to resolve in its discretion on the distribution of an aggregate maximum of EUR 0.14 per share as dividend from the retained earnings and/or as assets from the reserve for invested unrestricted equity.