Nokia 2014 Annual Report Download - page 48
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NOKIA IN 201446
Board review
The year 2014 was one of transformation for
Nokia, and an opportunity to take our rst steps
as a reinvented company following the sale
of substantially all of our Devices & Services
business in April.
The Board invested a great deal of time
and thought into the vision of where we
wanted to be, a strategy of how to get
there and the appropriate leadership
needed to execute that strategy.
After a thorough search process, the
Board appointed Rajeev Suri as the new
President and CEO of Nokia as of May 1,
2014, and appointed a new Group
Leadership Team. The Board also
decided on a new Nokia strategy and
a EUR 5 billion program to optimize
Nokia’s capital structure, including the
recommencement of dividend payments
and a plan to repurchase Nokia shares. All
of this was announced on April 29, 2014,
and at the Annual General Meeting in
June the Board was strengthened with
networks industry expertise.
Perspective is everything when planning
for the future. Time and again, Nokia
has proven itself a “serial transformer”
throughout its 150-year history, and
2014 marked the latest chapter in our
story of change. Once again we are
headed in an exciting new direction with
signicant opportunities for shareholder
value creation, focused squarely on
winning in a Programmable World.