Nokia names veteran Sari Baldauf as group boss to take on 5G challenge

Telecoms equipment maker Nokia announced on Tuesday that it plans to appoint its former networks chief Sari Baldauf as chairman, succeeding Risto Siilasmaa who will step down after eight years in the job.

Taking on the top job at Nokia will make Baldauf, 64, one of the most high-profile female executives in the telecoms industry globally.

She faces the task of catching up with rivals Huawei and Ericsson in 5G, after Nokia in October cut its outlook for this year and next because of the need to step up its investments – news that knocked a third off its share price.