Nokia chair Sari Baldauf to step down
Finnish telecom equipment maker Nokia has announced that its board chair Sari Baldauf will step down, with Timo Ihamuotila proposed as her successor, following the company’s report of quarterly earnings that met market expectations.
Nokia said comparable operating profit for the final quarter of 2025 fell slightly year-on-year to 1.05 billion euros but remained in line with analyst forecasts. Quarterly net sales also matched expectations, reflecting early gains from the company’s strategic push into artificial intelligence and data center technology, News.Az reports, citing Reuters.
The leadership change comes as Nokia undergoes one of its largest restructuring efforts in more than a decade. The company is shifting focus toward AI and data infrastructure to offset weaker spending and contract losses in the 5G sector.
Nokia last year appointed former Intel executive Justin Hotard as chief executive to accelerate the transformation. However, profit pressures linked to import tariffs and currency headwinds have increased expectations for further cost-cutting measures.
Looking ahead, Nokia forecast comparable operating profit for 2026 to range between 2 billion and 2.5 billion euros, signaling confidence in its ongoing transition strategy.
By Aysel Mammadzada
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