Michael Halbherr to step down as CEO of HERE and as a member of the Nokia Group Leadership Team

Nokia Corporation

Stock Exchange Release

August 20, 2014 at 9:00 (CET +1)

Nokia today announced that Michael Halbherr has decided to step down as CEO of HERE and as a member of the Nokia Group Leadership Team, effective September 1, 2014, in order to pursue his own entrepreneurial interests outside of the company.

"I would like to thank Michael for his leadership, passion and achievements during his eight years with Nokia," said Rajeev Suri, President and CEO of Nokia. "He has played a key role in making HERE one of the strongest players in its sector, with a depth and breadth that is unique. He leaves with my best wishes and the gratitude of all of Nokia."

Cliff Fox, currently Senior Vice President, Core Map Group, at HERE, will assume the position of acting head of HERE, effective September 1, 2014. A search for a permanent leader of HERE will start immediately inside and outside the organization.

Michael Halbherr said: "It has been a pleasure and honor to work with remarkable and smart people during my time at Nokia and HERE. I am proud that we have been able to create a leading location cloud company widely recognized across industries, by customers and by opinion leaders. Now the time is right for me to focus once again on entrepreneurial activities. I wish the team the best of success for the future."

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