Company: NOKBF
Filing Date: 2025-01-30
Form Type: 6-K
Source: 0001104659-25-007448
Chunk: 14

Company: NOKIA CORP
Filing Date: 2025-01-30
Form: 6-K
Chunk 14
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 accelerate the development of new products and solutions        
 to benefit customers. Refer to the Additional topics section in    
 this report for an update on the progress of the acquisition.      
 On 18 October 2024, Nokia announced changes to its Group           
 Leadership Team. Nokia had decided to divide its Corporate         
 Affairs function into two separate functions: Geopolitics and      
 Government Relations; and Communications. Mikko Hautala,           
 Finland’s former Ambassador to the U.S. who joined Nokia as        
 Chief Geopolitical and Government Relations Officer, and           
 Louise Fisk, who was promoted to Chief Communications              
 Officer, became members of the Group Leadership Team.              
 Melissa Schoeb, Chief Corporate Affairs Officer, and Jenni         
 Lukander, President of Nokia Technologies business group, had      
 decided to leave the company and stepped down from the             
 Group Leadership Team.                                             
 On 22 November 2024, Nokia launched a share buyback                
 program to offset the dilutive effect of issuing new shares to     
 the shareholders of Infinera Corporation and from Infinera’s       
 existing share-based incentives as part of the acquisition of      
 Infinera Corporation announced on 27 June 2024. The                
 program targets to repurchase 150 million shares for an            
 aggregate purchase price not exceeding EUR 900 million. For        
 more information on the share buyback programs, refer to the       
 Shareholder distribution section in this report.                   
 On 31 December 2024, Nokia completed the sale of Alcatel           
 Submarine Networks (ASN), a leading submarine networks             
 business, to the French State. The transaction, which was          
 announced on 27 June 2024, allows Nokia to focus its Network       
 Infrastructure portfolio on growth opportunities in its core       
 markets. Nokia will retain a 20% shareholding with board           
 representation to ensure a smooth transition until targeted        
 exit, at which point it is planned for the French State would      
 acquire Nokia’s remaining interest. For more information on        
 the financial effects of Nokia's discontinued operations and the   
 sale of ASN, refer to the Financial Statement Information          
 section in this report.                                            
 After 31 December 2024                                             
 On 22 January 2025, Nokia announced that it had appointed          
 Patrik Hammarén as President of Nokia Technologies and             
 member of the Nokia Group Leadership Team. Hammarén                
 joined Nokia in 2007 and has been acting President of Nokia        
 Technologies since October 2024. Prior to this role, Patrik has    
 held several senior positions in