Nokia 2003 Annual Report Download - page 68

Download and view the complete annual report

Please find page 68 of the 2003 Nokia annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 174

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174

5.F Tabular Disclosure of Contractual Obligations
The following table sets forth our contractual obligations for the periods indicated.
Contractual Obligations Payments Due by Period
2004 2005-2006 2007-2008 Thereafter Total
EURm
Long-term debt ...................... — 2 — 85 87
Operating leases ..................... 176 264 189 124 753
Inventory purchases .................. 1 033 12 6 — 1 051
Total .............................. 1 209 278 195 209 1 891
Nokia does not believe it has material funding requirements for its fully-funded domestic defined
benefit pension plans, which represent a majority of all its pension obligations. Benefit payments
related to the underfunded foreign defined benefit plans are not expected to be material in the
future. Therefore, these amounts have not been included in the table above for any of the years
presented.
ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES
6.A Directors and Senior Management
Pursuant to the provisions of the Finnish Companies Act and our articles of association, the control
and management of Nokia is divided among the shareholders in a general meeting, the Board of
Directors and the Group Executive Board.
The current members of the Board of Directors were elected at the Annual General Meeting on
March 27, 2003, in accordance with the proposal of the Corporate Governance and Nomination
Committee. On the same date, the Chairman and Vice Chairman were elected by the Board
members. Certain information with respect to these individuals is set forth below.
Board of Directors
Chairman Jorma Ollila, b. 1950 Chairman and CEO
and Chairman of the Group Executive Board of Nokia
Corporation.
Board member since 1995. Chairman since 1999.
Master of Political Science (University of Helsinki), Master
of Science (Econ.) (London School of Economics), Master of
Science (Eng.) (Helsinki University of Technology).
President and CEO, and Chairman of the Group Executive
Board of Nokia Corporation 1992-1999, President of Nokia
Mobile Phones 1990-1992, Senior Vice President, Finance
of Nokia 1986-1989. Holder of various managerial
positions at Citibank within corporate banking 1978-1985.
Member of the Board of Directors of Ford Motor Company
and UPM-Kymmene Corporation and Vice Chairman of
Otava Books and Magazines Group Ltd. Member of The
European Round Table of Industrialists.
67