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Former networks boss Sari Baldauf to replace Risto Siilasmaa as Nokia chair

Siilasmaa spent 12 years on the Nokia board, eight of them as chairman.

Sari Baldauf
Sari Baldauf's nomination will be put to shareholders in April 2020. Image: EPA / SEPPO SIRKKA

Finnish networks equipment firm Nokia announced on Tuesday that it would nominate former head of its networks unit, Sari Baldauf, to replace outgoing board chairperson Risto Siilasmaa.

Siilasmaa, who has been a board member for 12 years and served for eight years as chair since 2012, is expected to step down at the company’s annual general meeting in April 2020. At that time, he is likely to announce that he will no longer serve on the board.

Story continues after photo.

Risto Siilasmaa tittar åt sidan.
Outgoing Nokia chair Risto Siilasmaa. Image: Lehtikuva

Nokia said that it will name Baldauf to replace Siilasmaa as chair and that shareholders will vote on her nomination at the AGM. She led the company’s networks unit from 19988 to 2005 and joined the board as an independent member in 2018 and was later named vice chair.

She sits on the executive boards of a number of Finnish and European companies including car maker Daimler AG, energy giant Fortum, equity management firm Capman and cyber security company F-Secure. She was chair of the Fortum board until 2018.

Nokia also nominated Sampo financial group president and CEO Kari Stadigh to become the new vice chairman.

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