Nokia 2003 Annual Report Download - page 83
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Mr. Pekka Ala-Pietil¨
a’s contract has provisions for severance payments for up to 18 months of
compensation (both base compensation and bonus) in the event of his termination of employment
for reasons other than cause, including a change of control. As previously mentioned, Mr. Pekka
Ala-Pietil¨
a is entitled to a full statutory pension from the date he turns 60 years of age, instead of
the statutory age of 65.
6.D Employees
At December 31, 2003, Nokia employed 51 359 people, compared with 51 748 at December 31,
2002 and 53 849 at December 31, 2001. The average number of personnel for 2003, 2002 and 2001
was 51 605, 52 714 and 57 716, respectively, divided according to their activity and geographical
location as follows:
2003 2002 2001
Nokia Mobile Phones ........................ 27 196 26 090 27 320
Nokia Networks ............................ 16 115 18 463 22 040
Nokia Ventures Organization .................. 1 536 1 566 2 155
Common Group Functions .................... 6 758 6 595 6 201
Nokia Group .............................. 51 605 52 714 57 716
Finland ................................... 22 626 22 615 23 653
Other European countries .................... 11 479 12 057 14 045
Americas ................................. 9 947 10 093 11 215
Asia-Pacific ................................ 7 553 7 949 8 803
Nokia Group .............................. 51 605 52 714 57 716
Management believes that we have a good relationship with our employees and with the labor
unions.
6.E Share Ownership
The following tables set forth the number of shares and ADSs beneficially held by members of the
Board of Directors and the Group Executive Board as of December 31, 2003 (not including the new
Group Executive Board Members whose service began on January 1, 2004).
Board of Directors
Shares(1) ADSs
Jorma Ollila(2) .................................... 189 388 —
Paul J. Collins .................................... — 109 376
Georg Ehrnrooth(3) ................................. 305 559 —
Bengt Holmstr¨
om ................................. 7 687 —
Per Karlsson(3) .................................... 8 517 —
Robert F.W. van Oordt ............................. 7 719 —
Marjorie Scardino ................................. — 5 099
Vesa Vainio ...................................... 18 347 —
Arne Wessberg ................................... 5 099 —
Total ........................................... 542 316 114 475
(1) The number of shares includes not only shares acquired as compensation for
services as member of the Board of Directors, but also shares acquired by
any other means.
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