Nokia Chair Set to Step Down in April

Nokia announced that its chair, Sari Baldauf, will step down from the position, following a six-year stint. The news was announced along with the Q4/FY2025 business results.

Alongside the 2025 numbers announcement, Nokia stated Baldauf would depart in April, with current deputy chair Timo Ihamuotila proposed as her successor. Board member Thomas Saueressig is to assume the deputy position. Baldauf was elected chair in 2020 after returning to the company in 2018, having previously worked in various roles at the Finnish vendor from 1994 to 2005.

Nokia recorded a 2% year-on-year increase in revenue to €6.1 billion in Q4, with Network Infrastructure leading the charge with sales of €2.4 billion, up from €2 billion. CEO Justin Hotard explained the division’s growth was mainly driven by Optical Networks, with a strong order intake driven by demand from AI and Cloud customers. “Optical is a critical component of the infrastructure required to support AI at scale, and we are investing with a long-term view,” he said.

Mobile Networks revenue declined 2% to €2.5 billion, as Hotard pointed to a focus on “profitability and disciplined execution”. Cloud and Network Services revenue dropped 11% to €837 million, and Nokia Technologies 17% to €384 million. Net profit fell from €813 million to €544 million.

Looking ahead to 2026, Hotard said it is focused on disciplined execution to capture growth in AI and cloud, and increased efficiency through fewer, clear priorities, a simplified operating model, and a new strategy that the company is executing with speed and accountability. Nokia set a target of €2 billion to €2.5 billion of comparable operating profit in 2026.